What is VAT? First of all, we must make it clear what VAT is to avoid any type of misunderstanding. When we talk it affect your about VAT, we are referring to Value Tax. It is an indirect tax that is on the consumption of certain products and services ; on the other hand, it can be general, or super. VAT is also in the real estate sector and, specifically, when it comes to the purchase of a new home. If you have the idea of buying a brand new house , it is best to be very clear about everything about VAT on new homes. It is logical that you are wondering when it should be paid. What amount it is and why it is so important. Here we will clarify all your doubts. The reality is that, when buying a home or any other asset, we must pay different taxes . In some it may be VAT or Value Tax, while in others, it will be the Property Transfer Tax or ITP.
What is the VAT that is applied when you buy a new home?
The Treasury does not consider that buying a house. Buying freely from the developer, or officially protect housing is the same . This is why the VAT appli to each type of new property will be different. The VAT that is appli by default on new housing is , which would be UAE Telegram Number Data the VAT rate . An example to understand it better, if the home in promotion costs , euros, you must add , euros more in VAT. There are two exceptions to the general rule . Firstly, the VPO or Officially Protect Housing, in this case a super-VAT of is appli. The reason is simple, it is affordable and housing, also in terms of VAT. The other exception is commercial premises , the general VAT rate is to them , in other words.
When should VAT be paid on new homes?
VAT is paid when purchasing the home , in the same way as when you buy any other good. In this there is no difference between the purchase of a car, a mobile phone or a property. In this case, the store (the promoter) will charge the Nigeria Telegram Number corresponding. VAT and then send it to the Tax Agency (AEAT). How does VAT affect the home you can buy? VAT is an expense add to the price of the home, in the same way as the ITP and, therefore, will have its impact on the home you can access . Even if you do not take it into account, you may be very disappoint when the time comes to sign for the purchase of the home in question. The reality is that VAT does not have to be includ in the advertis price . In fact, the most common thing is that new construction homes that are advertis do not include the amount of VAT in the price. Its relationship with the mortgage is the second reason why VAT has an impact on the home you can afford.
