In the case of VAT-registered letting of property, the landlord can obtain a full VAT deduction on the construction costs when the lease has been signed with the tenant subject to VAT. A prerequisite is that the building is rented out within 6 months of completion. The Ministry of Finance is now extending this deadline to 12 months. The background is the pandemic and the challenges this creates for real estate players.
Source: PwC NO
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