Israel Tax Agency Issues Executive Order Announcing 2024 Tax Rates, Thresholds for Real Estate Purchases

The Israeli Tax Authority Jan. 16 issued Executive Order No. 2/2024, announcing the purchase tax rates and thresholds for real estate purchases between Jan. 16, 2024, and Jan. 15, 2025: The order includes: 1) the zero percent purchase tax rate for single residential apartments costing up to 1.9 million Israeli shekels (US$500,491), 3.5 percent for 1.9 million shekels to 2.3 million shekels (US$605,858), a 5 percent rate for 2.3 million shekels to 6 million shekels (US$1,580,500), a 8 percent percent for 6 million to 20 million shekels (US$5,268,336), and a 10 percent rate for properties valued at over 20 million ...