- Circular Announcement: On November 27, 2024, the Belgian Administration published Circular 2024/C/73, announcing the targeted extension of the 6% VAT rate for the demolition and reconstruction of homes, effective June 1, 2024.
- New Category for VAT Rate: The amendment introduces a new category allowing developers to benefit from the reduced VAT rate of 6% for reconstructing homes with a habitable surface area of up to 200 m², provided they are rented for at least 15 years to individuals who will reside there immediately.
- Clarification of Rental Conditions: The updated provisions clarify that the rental of these properties does not have to be classified under social policy, removing previous restrictive conditions related to long-term rental definitions.
- Legal Amendments: These changes are part of amendments to the law on miscellaneous fiscal provisions, specifically altering section XXXVII of Table A of the annex to Royal Decree No. 20, which was revised on January 1, 2024.
- Objective of the Measures: The main goal of these measures is to encourage the construction of new rental properties within budgetary limits by applying the reduced VAT rate, thus stimulating the housing market in Belgium.
Source The VAT house
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