I wanted to know some information regarding the new rules on agricultural land. I have been told that the new rules will make it very hard to get planning and a permit are going to change to make it easier for some to build. I have a plot of agricultural land which I wanted to sell but think it has devalued in price because of these new rules. Any information would be appreciated.
Yes it is very difficult to secure a permit. The interior minister announced that new regulations will apply when his deliberation with the local authorities and others are concluded.
So far no news and it is not expected to be soon.
VAT on land. Any more news?
It is coming in January 2018. VAT will be applied to development land as well as for rents that refer to commercial buildings (i.e. offices, shops etc).
It is a bit (to say the least) of a mess and no one can be sure where the VAT will apply.
Bearing in mind that VAT is tax deductible on certain occasions, this should not affect business premises.
Why buy a plot of land which will bear a 19% additional VAT charge, since we can buy a house which includes (if any) 5% VAT? Does it make any sense?
The VAT charge can be deducted from any VAT you pay (if a business). In addition (not clear) you may be allowed to have the property transfered without transfer fees – clarifications pending.