- The European Court of Justice condemned Belgium for incorrectly transposing the VAT Directive regarding VAT adjustment rules for renovation work
- The ruling could impact the real estate sector in Belgium
- European VAT rules aim to ensure neutrality for taxable persons by allowing deduction of VAT on input transactions
- Capital goods, including long-term assets, are subject to VAT adjustment to correct deduction rights
- The adjustment period applies when capital goods are no longer used for VAT taxable activities
Source: loyensloeff.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.
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