News Israel today

latest news from Israel in english

The government rejected the high court to return for revision the law on tax on third apartment

Sunday, may 14, the legal Council of 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 the text of the official response stated 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 stresses 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.

According to the Central Bureau of statistics, in the period from October 2016 to February 2017, apartment prices rose just 0.15% (0.5% annualized), while in the same period a year earlier the rate was 2.7% (8% annualized).

The number of investment apartments decreased from December 2016 to February 2017 approximately 800 units per month, whereas in the period from 2010 to 2015 it will grow by about 800 apartments per month, at the beginning of 2016 the growth of investment apartments was about 150 units per month. Thus, the law on the taxation of third apartments has already led to a significant change of situation on the real estate market in Israel.

According to experts, the return of law to the secondary discussion in the financial Committee of the Knesset and repeated voting in the second and third readings, in fact, will lead to cancellation of the results of the previous vote, — we will remind, the law has already been adopted in the first, second and third readings. Thus, we are talking about the abolition of the law, held all the required approval processes by Parliament and published, as required by Israeli law. To cancel the Knesset passed the law without the consent of the government and Knesset legislation does not allow.

In connection with the above, stated in the document, the defendants do not see the potential return is approved and effective law in force on completion.

Last week during consideration of the lawsuits filed by members of the parliamentary opposition, headed by Yitzhak Herzog, as well as property owners and investors, the judges of the High court of justice criticized the haste with which they accepted the law. The decision of the judges Miriam Naor said that the discussion of the bill and vote on it could be delayed a few days because we are not talking about saving someone’s life. With the criticism of the legislators agreed and the legal counsel of the Knesset, attorney Eyal Yangon. The high court demanded the government to return the law to the discussion in the financial Committee or explain why it cannot be done.

The government rejected the high court to return for revision the law on tax on third apartment 15.05.2017

Поделиться в соц. сетях

Опубликовать в Google Buzz
Опубликовать в Google Plus
Опубликовать в LiveJournal
Опубликовать в Мой Мир
Опубликовать в Одноклассники
Latest news from Israel in english © 2010-2015
38 queries