Announced modifications to the reduced VAT rate for renovation work

Announced modifications to the reduced VAT rate for renovation work

In addition to the company law aspects of the policy statement, the Michel I government also announced that the eligibility requirements for the reduced VAT rate for renovation of existing homes would be modified.

The reduced rate of 6% remains unchanged, but the age requirement of the property would be increased from the current five years to ten years.

This measure has not yet been implemented. Its entry into force is tentatively scheduled as of 2016.

We will keep you further informed on that matter.

For more information on this specific subject, please contact Ewoud Willaert (the author) and Marco Schoups (head of department).