Belgium extended a reduced value-added tax rate to more property renovations, to boost investment in rental property, the country’s finance minister said.
A reduced 6% VAT rate, which currently applies to the demolition of old properties and the building of new private dwellings on the same site, has been extended to demolition and reconstruction projects intended for the rental market, finance minister Vincent Van Peteghem said in a Wednesday notice. Belgium’s standard VAT rate is 21%.
- “More rental properties are disappearing than new ones are being added, and less is being invested in new construction. By extending the ...
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