Date of sale of the apartment
- Buying an apartment in Israel
The date of creation of the tax debt is also very important for the purposes of the dates set for reporting purposes, also as regards the scope of the charge in the appreciation tax and purchase tax and even in the matter of the liability for the improvement levy.
Section 19 of the Real Estate Taxation Act defines the ‘day of sale’ as the day on which the sale was made. Therefore, it is important to note that sometimes signing a memorandum of understanding will be considered the date of sale of the apartment, even if the final and detailed contract was signed at a later stage.