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The entry into force of the tax law of a third apartment postponed again

The public Prosecutor’s office notified the High court of justice (the high court) that the IRS has postponed the levying of the first part of the tax on the third apartment from the end of July for September 1.

This is the second postponement of the date of entry of this law into force in connection with the appeal, demanding to oblige the state to refrain from collecting the tax until the end of the lawsuit against him in the high court.

Also, the office was transferred in September the deadline for the submission of declarations on the number, location and size of apartments. At the moment of the Declaration filed about 1,200 homeowners.

Under the new law, the tax is imposed on owners of three or more apartments. The amount of tax will be 1% of the value of the apartment, while the maximum size should not exceed 18 thousand shekels a year. It is about 1,500 shekels per month with one apartment.

According to the Ministry of Finance and Tax administration, the law covered about 50 thousand property owners in Israel.

In may, the legal adviser to the government told the high court that the law on tax on third apartment can not be returned for revision to the financial Commission and the Knesset. In response, it was noted that the Finance Minister Moshe Kahlon, one of the defendants in a suit filed by investors and representatives of the opposition, opposed the repeal of the law, as it inevitably will negatively affect the real estate market in Israel and will break on the positive trends. The document stressed that the law in Israel has decreased the number of investment apartments, the rise in housing prices has slowed, investors began to put their own apartments up for sale, thereby increasing supply on the secondary housing market.

The entry into force of the tax law of a third apartment postponed again 27.07.2017

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