Finance Minister Yair Lapid’s new Value Added Tax free apartments for those who qualify left chareidim and Arabs behind for one of the eligibility criteria is being a veteran of the IDF or an approved national service. The plan does permit Arabs and chareidim and others who did not serve purchase an apartment not exceeding 600,000 shekels. Critics stated that number is unrealistic as there are very few apartments offered at this price.
For those eligible for the program, they may purchase an apartment without paying 18% VAT tax up to 1.6 million shekels.
Following an agreement between the treasury and the Justice Ministry, the bill being presented in Knesset for a first reading will permit non veterans to purchase an apartment up to 900,000 shekels instead of 600,000 shekels.
(YWN – Israel Desk, Jerusalem)