Law Update: Change of dates for filing declaration on purchase or sale of real estate / land association action

On December 21, 2016, the Economic Plan Bill (legislative amendments to implement the economic policy for fiscal years 2017 and 2018), 2016, was enacted by third reading amending Article 73 of the Income Tax Law which states, inter alia, the date for filing a declaration ‎ to the land taxation Administration.

The amendment provides that the date for filing a declaration by the seller and the purchaser will be 30 days from the date of sale / purchase (instead of 40 days) as of January 1, 2017.