Belgium Lower House Considers Bill on Reduced VAT for Building Demolition, Reconstruction, Heat Pump Installations

The Belgian Chamber of Representatives Nov. 23 accepted for consideration Bill No. 55K3697001, to apply the 6 percent reduced VAT rate to building demolition, reconstruction, and heat pump installations. The bill includes measures to: 1) replace existing permanent and temporary regimes for demolition and reconstruction with a new definitive regime, effective Jan. 1, 2024; 2) limit the reduced 6 percent VAT rate to residential buildings meeting specified social conditions; 3) introduce transitional measures for the sale of reconstructed residential buildings until Dec. 31, 2024; 4) extend the 6 percent reduced VAT rate until Dec. 31, 2024, for real estate work ...