Real estate taxation · Implementation Instruction
Cancellation of a Transaction: Unilateral Notice - 8/2008
Summary
The instruction provides that, as a rule, cancellation of a transaction for real estate taxation purposes requires notice from all parties to it, but the Director may be persuaded that it is void also on the basis of a unilateral notice, for example a reasoned judgment ordering that the agreement is void; a consent judgment, an unreasoned judgment or a cancellation whose economic substance is a resale will be examined with extra caution. When a unilateral declaration of cancellation is received, the other party is contacted, and where there is no response or the Director is not persuaded, the cancellation will not be accepted. If the seller reported a conflicting transaction in the same property, the tax certificates will be issued only after payment of all taxes in the new transaction, including the higher betterment tax of the two assessments, and in the case of a residential apartment the exemption will also be granted in the later transaction if the seller meets all its conditions.
The summary was written by the office and reflects the instruction as of its publication date. The binding text is the official Hebrew publication, and the instruction may have been updated or affected by later legislation and case law. The English title and summary are an unofficial translation.
Publication details
- Type
- Implementation Instruction
- Number
- 8/2008
- Publication date
- 27.8.2008
- Topics
- Reporting and procedures, Betterment tax
Related publications
Official document
Source: The publication on the Israel Tax Authority website (gov.il, Hebrew)
Suggested citation
Israel Tax Authority, Implementation Instruction 8/2008, "Cancellation of a Transaction: Unilateral Notice - 8/2008" (27.8.2008) [Hebrew]
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