Daily Israel Report
09:21
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News Brief

  3/21/2014, Adar Bet 19, 5774

Lapid Amends Criteria for First Homes Without Sales Tax


Finance Minister Ya'ir Lapid announced, Friday, a few changes in his proposal not to charge the 18-percent value-added tax on a person or couple's first home. The changes in qualifying criteria followed criticism over the original proposal.

The revisions make people above the age of 35 eligible, as well as childless couples where at least one member of the couple is older than 35. All eligible purchasers will be allowed to rent out the home during the first five years of ownership, but sale of the property during that period will result in loss of the 18-percent effective discount.