The Tax Authority's voluntary disclosure program, which grants criminal immunity for reporting undeclared income and assets, has seen low participation, with only a few hundred applications totaling approximately 877 million shekels submitted before the end of August deadline, according to reports.
The Tax Authority's voluntary disclosure program, set to expire at the end of August, has attracted only a few hundred applications totaling approximately 877 million shekels, disappointing officials who had hoped for broader participation. The program offers criminal immunity to individuals who report previously undeclared income and assets, and is seen as a tool to increase tax compliance and bring hidden capital into the formal economy. The low response may reflect limited awareness, reluctance to come forward, or the perception that the immunity terms are insufficient. The final figures will be known after the August deadline.
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