The voluntary disclosure window closes on 31 August
The voluntary disclosure procedure the Tax Authority published on 25 August 2025 is a temporary order, and it closes on 31 August 2026. Two weeks are left. Anyone who files a request that meets the conditions pays the full tax on the income or asset that went unreported, and in return gets immunity from criminal proceedings.
The figures published as of 21 July show a thin response: 383 requests in total, NIS 877 million in declared capital and about NIS 57 million in tax. Of those, 84 involved digital currencies, covering roughly NIS 210 million in capital and NIS 18 million in tax.
Who this is actually for
Not only money in Switzerland. A self-employed person paid in cash without issuing an invoice, a client abroad who paid into a PayPal balance or a foreign bank account that never reached the books, a crypto gain nobody asked for a return on, rental income above the exemption, a side job alongside a salary. All of it is taxable income that was not reported, and the procedure was written for exactly these cases.
What it gives and what it does not
The immunity is criminal only. The tax itself is paid in full, with interest and linkage, and sometimes civil penalties on top. The disclosure has to be genuinely voluntary: if the Tax Authority has already opened a check, or the information has already reached it, the request will not be accepted.
The main difference from earlier rounds is that there is no anonymous track. Previous procedures let you test your exposure with the Authority without giving a name, and decide afterwards. This time the filing carries your name from the start. Attorney Yiftach Samchoni ties the weak crypto response to that, rather than to any absence of unreported holdings. There is a short track for smaller crypto sums that does not require a discussion with the assessing officer.
What happens on 1 September
The Tax Authority has announced no successor procedure, and the expectation in the market is that another round arrives at some point with no timetable attached. Until then, anyone sitting on unreported income is on the wrong side of a flow of information that keeps growing. Bank reporting, exchange of information with foreign tax authorities and reporting from crypto exchanges all land at the Authority and get matched against filed returns. Once the information is there, the voluntary disclosure door is shut.
What to do this week
If something of yours went unreported, the conversation with your accountant or a tax lawyer belongs to this week, not to the 29th. A request means reconstructing years: bank statements, receipts, exchange transaction history. Gathering the material takes longer than writing the request.
Even a business that reports everything discovers at this point how hard it is to reconstruct a year it kept no proper records for. Document retention sets out what to keep and for how long.