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Maya Zisser Insights & News / 

September 14, 2021

District Court Ruling: Azrieli Foundation Exempt from Paying Taxes on Dividends

An Israeli district court rejected the Israel Tax Authority’s attempt to force the Azrieli Foundation to pay taxes in the amount of tens of millions of shekels for dividends it received and continues to receive due to its holding in Azrieli Group's shares. The court accepted the tax appeal, which was filed by Barnea Jaffa Lande, and ruled that the Azrieli Foundation,  a non-profit organization that works for the public good in Israel, is not the controlling owner of Azrieli Group and is therefore entitled to a tax exemption. The court ruled, among other things, that the ITA’s position could have a chilling effect in relation to business entities’ support of philanthropic associations. Our firm's  Zohar Lande, Eyal Nachshon, Harel Perlmutter, Nir Ziman, and Omer Keydar represented the Azrieli Foundation throughout the proceedings, which lasted about five years.
Categories: Litigation | NPO | Tax

July 17, 2021

Israeli-UAE Tax Treaty

On May 31, 2021, Israel and the United Arab Emirates signed a tax treaty. This is the first tax treaty between the states. It is expected to go into effect on January 1, 2022, after passing the necessary ratification processes in the Knesset and the government.

January 17, 2021

A new Supreme Court ruling considers the municipal property taxes for common areas in malls and shopping centers

The Tel Aviv Municipality sent the Ramat Aviv Mall a municipal property tax bill for its common areas. The mall’s management argued that shop tenants must pay municipal property tax payments for these areas, under their lease agreements with the mall.

July 23, 2020

Apartment Sale Delayed because of COVID-19? Home Upgraders Eligible for an Extension

Apartment owners experiencing difficulty selling their old apartments are entitled to a seven-month extension in which to sell, and the Israel Tax Authority will not count this period for tax purposes.

June 22, 2020

Barnea Represented Cyberx Shareholder in Microsoft Acquisition

We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
Categories: Corporate | High Tech | Tax

January 1, 2020

Israel-Serbia Double Taxation Treaty to Take Effect in January 2020

The treaty for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income between the government of Israel and the government of the Republic of Serbia is expected to take effect on January 1, 2020.

August 22, 2019

Maya Zisser Featured on Economic TV Program

Adv. Maya Zisser, a partner in the Real Estate Department, was featured on the economic TV program "Sogrim Heshbon." She discussed renting in Israel during the summer.
Categories: Real Estate

July 24, 2019

Canceling Expropriation for Public Use – When?

The Supreme Court recently heard a case on the cancellation of expropriation and ruled that public interest prevails over the damage caused to landowners.

April 16, 2019

Israel and Australia Signed a Double Tax Treaty

A double taxation treaty was signed between Israel and Australia in the end of March 2019, after years of prolonged negotiations, expectations, and wonder about the obstacles.

December 27, 2018

Draft Bill - Real-Estate Purchasing Groups

On December 23, 2018, the Israeli ministerial committee approved a draft bill on the subject of real-estate purchasing groups. This draft bill is designed, on the one hand, to protect members of purchasing groups and, on the other hand, to enable their continued existence as a means to construct residential apartments while cutting costs.

December 23, 2018

Israel Tax Authority Issues New Rules for Recognizing Property Betterment Expenses

The Law for Reducing the Use of Cash, which is scheduled to come into effect on January 1, 2019, will have a significant impact on the real-estate sector.

August 29, 2018

Have You Ever Paid Betterment Tax or Purchase Tax? - You May Be Eligible for a Rebate

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.

July 25, 2018

Approved Draft Bill Amends Planning and Building Law – Exemption from Land Betterment Tax

In July 2018, the Israeli Knesset approved a draft bill in a second and third reading that addresses the obligation of apartment owners seeking to sell a property as a result of a general outline plan to pay land betterment tax.

May 27, 2018

Barnea Representing Yad Hanna in Agreement to Lease and Construct Logistics Center for Diplomat

Our firm is representing Yad Hanna in a long-term lease agreement of 30 dunams in its industrial zone for the construction of Diplomat's new logistics center. The construction is valued at NIS 230 million.
Categories: Real Estate | Real Estate Transactions

May 2, 2018

Israeli Supreme Court Ruling: Property Buyer Required to Pay Betterment Tax if Seller Is Incapable Due to Insolvency Proceedings

According to a ruling handed down recently by the Israeli Supreme Court, when a real estate asset is sold before the seller enters bankruptcy proceedings, and the seller has not paid the betterment tax, the local council is not obligated to grant the buyer approval for registering the property under his name. Thus, the buyer will be required to pay the betterment tax.

April 18, 2018

Barnea Represented Greenyard Fresh in Acquisition of Mor International

Our firm represented Greenyard Fresh, a global market leader of fresh, frozen, and prepared fruits and vegetables, in the acquisition of 49% of Mor International.
Categories: Corporate

December 19, 2017

Changes in the Taxation of Sales of Residential Apartments

A number of changes in the taxation of residential apartment sales will come into effect on January 2018.

December 11, 2017

Barnea & Co. Represented EXO Technologies in Acquisition by Lear

Barnea represented Israeli startup EXO Technologies, a developer of GPS technology for autonomous and connected vehicle applications, in its acquisition by the American corporation Lear.
Categories: Corporate | High Tech | Mergers and Acquisitions | Start Ups

November 1, 2017

Barnea & Co. represents HP in its acquisition of Samsung Electronics Co. Printer Business

HP Inc. completed its acquisition of Samsung Electronics Co., Ltd.’s printer business in a deal valued at $1.05 billion. HP Inc. was represented by Barnea
Categories: High Tech | Intellectual Property

July 2, 2017

Barnea & Co. Represented Avgol in the Sale of its Rights in the Barkan Plant

Barnea represented Avgol in the sale of its rights in the Barkan plant for NIS 52.5 million. Avgol is in the process of transfering its production center in Israel to Dimona.
Categories: Capital Markets | Corporate | Real Estate | Real Estate Transactions

May 29, 2017

Urban Renewal Law (Transaction Organization Agreements)

The Urban Renewal Law, which was promulgated at the beginning of April 2017, is attempting to regulate the phenomenon of obtaining apartment-owners’ signatures on undertakings towards developers and/or various entities (organizers) that are supposedly promoting urban renewal projects.

March 3, 2017

The High Court of Justice - the Gatekeeper of the New Multi-Apartment Act

Adv. Maya Zisser, Partner in the Real Estate Department ate Barnea in an article in The Marker, following a temporary injunction issued by the High Court ordering the State to explain why the New Multi-Apartment Act should not be canceled. Maya commented that those people to whom the new Law applies should hold back on any actions designed to counter the application of the law, as such actions may be irreversible.
Categories: Real Estate | Real Estate Taxation

January 25, 2017

Seminar on the New Multiple Housing Taxation Law

Barnea is conducting on February 14th a morning seminar on the new Multiple Housing Taxation Law. Adv. Maya Zisser, Partner at the Real-Estate Department will lecture on the new tax - to whom does it apply, the tax rate, payment methods, exemptions and credits. Adv. Harel Perlmutter from the Tax Department will lecture on tax saving opportunities in respect of rental income. 
Categories: Real Estate Taxation | Tax

January 3, 2017

Local Planning and Building Committee Requirement of Deeds of Indemnity is Ruled Illegal

A Supreme Court judgment handed down in December by the Honorable Justice Yoram Danziger ruled that the demand by local planning and building committees that deeds of indemnity be signed is illegal (Bikel Flowers Ltd. vs. the Local Planning and Building Committee – Rishon Letsiyon).

December 16, 2016

The Knesset Finance Committee Passed the Third Apartment Tax Bill

Adv. Maya Zisser, Partner in the Real Estate Department at Barnea, was interviewed by Bizportal following the approval of the third apartment tax bill by the Finance Committee. Maya commented that we will not see a wave of sales of flats by owners of third apartments, but instead, owners will pass on the burden to tenants by way of increased rentals.
Categories: Real Estate | Real Estate Taxation

July 12, 2016

The Ministry of Construction and Housing allows foreign construction companies to operate in Israel for the first time

In March 2016 the government adopted the housing cabinet’s recommendations regarding criteria for allowing foreign construction companies to begin operating in Israel. This move is one of the government’s strategies for increasing the volume of residential construction in Israel.

February 23, 2016

What you need to know about buying your first home

Buying an apartment is usually the biggest purchase of one’s life, and for most of us it represents a significant financial outlay. Therefore, once we’ve found an apartment we like but before we’ve signed a contract, it’s very important to check out several angles.

August 18, 2015

Updates about legislative amendments relating to construction licenses and permits

Amendment 101 to the Building and Planning Law was promulgated in April 2015. The amendment concerns a transfer and expansion of authorities to the local committees and sweeping amendments designed to shorten, streamline and simplify construction licensing. 

August 11, 2015

Israel home sales reach all-time monthly record

The Ministry of Finance has published data showing a 42% surge in apartment purchases to a record 16,100 apartments in June. This " wave of sales" is a result of  investors trying to buy before implementation of the new purchase tax. Maya Zisser Ben Tal, partner in the real estate department, was interviewed by some leading newspapers and websites – Globes, Calcalist, Ynet and Bizportal, saying that she doubts if the new purchase tax will eventually reduce high prices in the housing market.
Categories: Real Estate

July 14, 2015

Housing cabinet approves subsidized housing program

The housing cabinet, headed by Finance Minister Moshe Kahlon, confirmed yesterday a long series of decisions made by the cabinet, relating primarily to relief on property prices. The Financial magazine, Globes, published comments by certain real estate experts regarding these measures. One of the experts, Maya Zisser, a partner in the real estate department of our firm commented that she doubted whether the promises made will be fulfilled. 
Categories: Real Estate
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