- Belgium MOF announced proposed amendments for VAT reduction on demolition and reconstruction of buildings
- Proposed amendments to expand scope of VAT reduction rate effective June 1
- Measures include applying 6% VAT rate to real estate works involving demolition and joint reconstruction of residential buildings for long-term rentals
- Reduced VAT rate to be applied on properties rented for at least 15 years
- Excludes supply of new housing from scope of reduced VAT rate
- Transitional measure provided for unfinished projects starting prior to June 1.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
