The 2010 financial year extension of a personal income tax of 36% discount on the cost of building renovation. The extension until 2012 of the bonus is extended on behalf of purchasers and holders of units that are part of buildings on which construction or renovation of real estate companies or housing associations have done when renovating old buildings.
The tax benefit, which was extended by the provision contained in paragraphs 10 and 11, Article 2 of Law 191/09, is paid for up to 48 thousand euro per building unit. The personal income tax deduction of 36% is subject to the condition that the cost of labor is highlighted on the invoice. It is noted
the expenditure incurred in 2012, is entitled to the benefits provided that the works are carried out by 31 December 2012 and that the sale and assignment of the property done by June 30, 2013
Finally, Article. 1, paragraph 17, letter a of Law No 24 December 2007 244 (2008 Finance Act) has further extended from 1 January 2008-31 December 2010, the deduction of 36% for actions for recovery of residential building stock, the maximum spending limit of € 48,000 per housing unit. Provision is also made for the same period of time, facilitated the extension of the application of VAT to 10% for ordinary and extraordinary maintenance on housing (art. 1, paragraph 18 of Law 244/2007). At the same time, is reintroduced to the deduction of 36% for the purchase of housing site in buildings all restored by construction companies, to be calculated on 25% of the purchase price, up to a maximum of 48,000 euro, provided that interventions are performed by 1 January 2008-31 December 2010 and that the deed is signed by June 30, 2011 (Article 1, paragraph 17, letter b of Law 244/2007). Also, for 2008 is confirmed the obligation to indicate in the invoice cost of labor, under penalty of disqualification from the deduction, which is recognized both for rehabilitation of housing for the purchase of homes refurbished (Article 1, paragraph 19 of Law 244/2007). Otherwise, the law eliminates 244/2007, the invoices issued from 1 January 2008, this requirement applies only until December 31, 2007, as a condition for applying the VAT at 10% of all maintenance of the ordinary and extraordinary homes.
The tax benefit, which was extended by the provision contained in paragraphs 10 and 11, Article 2 of Law 191/09, is paid for up to 48 thousand euro per building unit. The personal income tax deduction of 36% is subject to the condition that the cost of labor is highlighted on the invoice. It is noted
the expenditure incurred in 2012, is entitled to the benefits provided that the works are carried out by 31 December 2012 and that the sale and assignment of the property done by June 30, 2013
Finally, Article. 1, paragraph 17, letter a of Law No 24 December 2007 244 (2008 Finance Act) has further extended from 1 January 2008-31 December 2010, the deduction of 36% for actions for recovery of residential building stock, the maximum spending limit of € 48,000 per housing unit. Provision is also made for the same period of time, facilitated the extension of the application of VAT to 10% for ordinary and extraordinary maintenance on housing (art. 1, paragraph 18 of Law 244/2007). At the same time, is reintroduced to the deduction of 36% for the purchase of housing site in buildings all restored by construction companies, to be calculated on 25% of the purchase price, up to a maximum of 48,000 euro, provided that interventions are performed by 1 January 2008-31 December 2010 and that the deed is signed by June 30, 2011 (Article 1, paragraph 17, letter b of Law 244/2007). Also, for 2008 is confirmed the obligation to indicate in the invoice cost of labor, under penalty of disqualification from the deduction, which is recognized both for rehabilitation of housing for the purchase of homes refurbished (Article 1, paragraph 19 of Law 244/2007). Otherwise, the law eliminates 244/2007, the invoices issued from 1 January 2008, this requirement applies only until December 31, 2007, as a condition for applying the VAT at 10% of all maintenance of the ordinary and extraordinary homes.
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