The taxation of real estate transactions has changed.

Previously, income from the sale of one property per year was not taxed, and the sale of the second and subsequent properties were taxed at a rate of 5%. The new tax law #5600 should close this possibility. From January 1, income from the sale of a third and subsequent real estate properties sold by an individual during the year should be taxed at a standard rate of 18%. However, the 18% tax will not be paid on the entire amount received from the sale of real estate, but only on the difference between the sale amount and the price at which the property was purchased.