Tax Authority on trail of tax evading landlords

Published date02 April 2024
AuthorEla Levy-Weinrib
Publication titleGlobes (Rishon LeZion, Israel)
Up to now, the Tax Authority has not had access to information on, for example, people who inherit properties or who build homes on land they own, as these are not tax events that require reporting. People who rented out such properties remained unknown to the Tax Authority unless they reported the income on their own initiative

Such information will now be transferred to the Tax Authority by the Land Registry, which is responsible for documenting all transactions in real estate.

The information gathering exercise comes just before the announcement of a new voluntary disclosure procedure, in which people will be able to disclose unreported income without the threat of criminal charges.

According to the Israel Tax Authority's current information, 1.63 million Israelis own one home, 290,000 own two, and 86,000 own three or more. By law, a person who rents out a home for more than NIS 5,654 monthly is required to report the income to the Tax...

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