Tax Authority estimates: Unreported funds amounting to over NIS 85 million were exposed abroad

A national operation of the Tax Authority has revealed unreported bank accounts held abroad by Israeli residents in the amount of over NIS 85 million. A national operation to expose bank account holders and assets abroad was conducted in recent days by the Investigations Division and the Professional Division of the Tax Authority, and led to the exposure of dozens of unreported bank accounts held abroad by citizens and residents of the State of Israel amounting to tens of millions of shekels.
 As part of the operation, about 20 suspects were investigated, whose names were included in lists of bank account holders received under agreements for the exchange of information between countries in accordance with the CRS (Common Reporting Standard) procedure, which revealed unreported funds amounting to over NIS 85 million. Some of the investigative actions carried out led to the arrest of a number of suspects and their release under restrictive conditions.
 For example, Michael Darzen, a resident of Safed, was brought before the Magistrate's Court in Haifa on suspicion of holding bank accounts abroad between the years 2022-2017 in the amount of NIS 6.5 million. The suspect regularly withdrew from the bank's accounts using a credit card in his possession about NIS 8,000 per month, in addition to withdrawing a sum of $ 150,000 in cash through the PLO from Jerusalem in order to hide the existence of the account. The Honorable Justice Vice President Tal Tadmor-Zamir released the suspect on restrictive conditions.
 Another suspect, a resident of Bnei Brak, was brought before the Magistrate's Court in Tel Aviv, on suspicion of failing to report the number of bank accounts registered in his name abroad in the amount of NIS 6.3 million. And that there are financial income in his accounts arising from activity in the account.Just Judge Ravit Peleg Bar-Dayan released the suspect on restrictive conditions and imposed a restraining order on his name.
 As part of the operation, Michael Dripus, a resident of Haifa, was also brought before the Magistrate's Court in Haifa on suspicion of failing to report bank accounts abroad in the amount of NIS 25 million in order to evade paying tax. Restrictive.
 The Tax Authority will continue to use the information obtained as part of the CRS reports for locating and identifying unreported assets abroad by Israeli residents in order to expose tax offenders and collect real tax.