Last night, the Knesset approved at second and third readings the increase in the purchase tax on dwellings bought for investment to 8-10%. 73 Knesset members voted in favor. The Knesset Finance Committee has approved the advancement of the date for the tax hike to come into force, from July 1 to June 24, that is, tomorrow. Approval was obtained after Ministry of Finance director-general Shai Babad acceded to an opposition demand that he should examine the widening of the tax exemption for people who inherit homes. The tax hike is the initiative of Minister of Finance Moshe Kahlon, part of his strategy for bringing down the price of housing in Israel. Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2015 © Copyright of Globes Publisher Itonut (1983) Ltd. 2015
