Tel Aviv startup company headquartered in New York expressed intentions to pay the whole amount or part of their wages in bitcoins. The company is said to be in talks with tax services for the required permit.
According to the news reports, Spot.IM plans to open an account with one of the crypto trading platforms. The wages will be converted into bitcoins and transferred to the addresses of its employees.
The company stated that the exchange rate may be the average level between the high and low price for Bitcoin during day certain striving to reduce to rate volatility in such a way.
All commissions will be paid by the company. Notably, the employees are said to have an option how they want to be paid – fiats or bitcoins.
For now, Spot.IM cooperate with the tax service to get the green light for such wage payment method. For reference, fiscal authorities in Israel believes that any money equivalent can be used for payment.
"Any money, money equivalent or benefit given to an employee is viewed as taxable income by the Tax Authority," reported Calcalist citing the lawyer of the company.
Israel planned to put into force the law against money laundering via cryptos but delayed the decision. The rule might become effective since June 1.