Have You Ever Paid Betterment Tax or Purchase Tax? – You May Be Eligible for a Rebate
The Israel Tax Authority (ITA) recently launched an application that allows anyone who previously executed a real-estate transaction to check whether he or she has a credit balance in respect of an overpayment of betterment tax or purchase tax.
Receiving a rebate is simple. Start by typing in the identity card number of the party who executed the transaction. If there is a credit balance, a notice will appear.
- If the credit balance is between NIS 1 and NIS 500, type in the bank account details of the party who executed the transaction. Once the bank account details are received, the ITA will perform the calculations. After a few days, the credit balance will be deposited in the relevant bank account.
- If the credit balance exceeds NIS 500, print out the form, complete it manually, and take it to the bank branch managing the bank account. The bank will then forward the completed form to the ITA. After a few days, the credit balance will be deposited in the relevant bank account.
To take advantage of this application, you must register on the ITA’s website. Here is the link to the application.
The examination can also be performed with a smart card, if you have one. We would be happy to assist you in checking your tax balance. Simply email us your request, along with the name and ID number of the party who executed the transaction.