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TVA on new builds

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This may be good news for some.  I heard through a notaire today, that the VAT payable on new build property sold within the 5 year ownership rule, is now abolished from immediate effect, and therefore no VAT to pay.

He still working through the 100+ pages to verify whether this also applies to property, that has been renovated/extended and normally coming under the new property regs. for vat and properties that are sold within 5 years.

The fly in the ointment could be, that the reduced notaires fees will  no longer apply.

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It's a typically French situation.

The law reforming VAT on property has been published today


The instructions implementing transitional arrangements will be published soon, but as it doesn't say anything to the contrary one has to assume that the rules, whatever they will be are already in effect!


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