Search by Practice
Client updates / Real Estate Taxation
Up until now, the Israel Tax Authority interpreted the Real Estate Taxation Law so that spouses who signed a prenuptial agreement and maintained separate property were considered a single family unit for the purposes of real estate tax.
The Israel Tax Authority (ITA) recently launched an application that allows anyone who previously executed a real-estate transaction to check whether he or she has a credit balance in respect of an overpayment of betterment tax or purchase tax.
The Israel Tax Authority (ITA) recently published a draft circular for public comment on the issue of classifying residential rent income. The ITA states that, according to its reasoning, income from the leasing of 10 or more apartments should be deemed business income.