How much is VAT, and is it included in the sale price?
The decision of 15% VAT on new built property has been passed, with the exception of projects or buildings which have applied for planning permit prior to 1st May 2004. The decision affects all new projects coming onto the market, but the price increase to clients will be closer to 10% due to some of the tax being applied to materials used. There is no VAT applied to the purchase of land up till 2007. VAT is also exempt for re-sale properties.
The VAT is included in the sale price. The decision of 15% VAT on new build property has been passed, with the exception of projects or buildings which have already applied for the planning permit prior to the 1st May 2004. This decision affects all new projects coming onto the market, but the price increase to clients will be closer to 10% due to some of the tax being applied to materials used. There is no VAT applied to the purchase of land up until 2007. VAT is also exempt for re-sale properties.
