ARTICLE · 04 OCTOBER 2024

Israel's Anticipated, Pilot Voluntary Disclosures Program Gets A Rocky Start -- And Lessons From Canada's Voluntary Disclosure Program (VDP)

Rotfleisch & Samulovitch P.C.

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Generally speaking, voluntary disclosure programs are administrative programs offered by tax administrators to allow previously non-compliant taxpayers to correct their affairs if certain terms and conditions are met.

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David Rotfleisch

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Introduction: Israel's Pilot Program for a Modern Crypto-Centric Voluntary Disclosures Program for Taxes Gets a Rocky Start

Generally speaking, voluntary disclosure programs are administrative programs offered by tax administrators to allow previously non-compliant taxpayers to correct their affairs if certain terms and conditions are met. In exchange for correcting tax non-compliance, tax administrators will offer valuable incentives, such as penalty and interest relief, or exemptions from potential criminal charges for tax evasion. Many developed countries, including Canada, the United States of America, England, Germany, and Japan, each operate voluntary disclosure programs of their own design, and to great effect.

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