Monday, August 7, Finance Minister Moshe Kahlon, head of a coalition government David Bitan and head of the Finance Committee of the Knesset Moshe Gafni came to an agreement, according to which the tax law of a third apartment will be re-submitted for discussion and voting.
The law, which is one of the most important for the Finance Minister, were cancelled in accordance with the decision of the high Court because of the «fundamental mistakes» made in the legislative process. A panel of judges recommended to return the law for revision to the Finance Committee of the Knesset.
The President of the court Miriam Naor, in its decision noted that the adoption of this law was «crossed all red lines».
Kahlon, Bitan and Gaffney made the decision to submit a bill for consideration by the Finance Committee of the Knesset during the recess.
According to the law, whose fate is currently in question, the tax was to be levied on owners of three or more apartments. The amount of the tax was to be 1% of the value of the apartment, while the maximum size was not to 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 would get about 50 thousand property owners in Israel.