Whether you are selling or purchasing property in Israel, IRE Lawyers can help optimize your taxes to your benefit. Tax planning is an essential part of buying and selling a property and has long term ramifications that can influence your decision.
The Israeli Tax Authority publishes the rates of taxes for real estate transactions and updates them regularly. In principle, there are no exceptions to the responsibility to pay taxes. The two main types of tax are the purchase tax, which is paid for by the buyer, and the betterment tax, which is typically paid for by the seller. However, the rate you end up paying is dependent on a host of factors, such as if you qualify for tax relief, if you are currently a resident of Israel, or if you plan on becoming one. New immigrants to Israel and first-time property buyers that fit specific profile requirements, for example, will be subject to different beneficial deductions. Our legal team will analyze everything from zoning regulations to the local municipal tax, giving you the tools you need to make an informed decision. Contact any one of our lawyers to learn more about how you can use tax planning to your benefit when buying or selling a property.