- The reduced VAT rate of 6% for demolition and reconstruction in Belgium is being extended to include houses and apartments intended for rental to private individuals, subject to certain social conditions.
- To have a lasting impact on the rental housing market, the reduced rate can only be applied if the rental property is leased out for at least 15 years to consecutive private tenants, and the property cannot be sold or repurposed during this period.
- The law regarding this extension was published in the Belgian Official Gazette on May 29, 2024, and it will be effective from June 1, 2024. The reduced rate applies to works completed and invoiced after June 1, 2024, and an advance declaration must be submitted via Myminfin.
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