Thousands of Taxpayers Come Forward in Disclosure Program

YERUSHALAYIM -

The Israeli Tax Authority has succeeded in ferreting out over 4,000 taxpayers who had been hiding taxable accounts totaling 16 billion shekels, Globes reported on Tuesday.

The Israel Tax Authority voluntary disclosure policy – in which taxpayers can report previously hidden capital without facing prosecution – has made possible the collection of half a billion shekels in taxes on the previously unreported capital, the Authority said.

The program, which received 4,300 requests for disclosure, is expected to end in two and a half months, after a prolonged extension.