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14% VAT refund on land purchased by a parent or guardian and transferred to a beneficiary child for the construction of a house which is subject to a reduced VAT rate of 5%.
Specifically, the Department of Taxation notes that with a decision of the Council of Ministers dated 12/01/2022, the possibility of VAT refund is provided. 14% on land purchased by a parent or guardian and transferred to an adult child, for the construction of a house subject to a reduced VAT rate of 5%.
The Plan applies to plots defined in the Eighth Annex, paragraph (1) (b) (ii) of the Law on Value Added Tax of 2000, as amended from time to time, and which are subject to VAT. The remaining terms of the Plan remain valid.
This amendment is valid from the date of the Decision of the Council of Ministers, ie from 12/01/2022.
The Responsible Declaration for VAT refund is posted on the website of the Tax Department. in the purchase of a plot of land for the construction of a house that is subject to a reduced VAT rate. .
