France Gazettes Decree Clarifying Application of Reduced VAT, Property Tax Exemption on Social Housing Renovations

The French Official Gazette Dec. 5 published Decree No. 2024-1142, applying a reduced 5.5 percent VAT rate and an exemption from property tax on built properties (TFPB) for major renovations to certain social rental housing. The decree explains that the tax benefits apply to: 1) housing in Guadeloupe, Guyana, Martinique, Reunion, and Mayotte; 2) buildings meeting specific energy and environmental performance criteria; and 3) buildings using at least 50 percent renewable heat sources for domestic hot water. The decree enters into force Dec. 6. [France, Government Legal Database, 12/05/24]

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View Decree No. 2024-1142 of 12/04/24. View Decree No. ...