- June 24, 2005 at 6:34 pm #51143
Iam in the process of buying a new villa in Almaria.The builder is also fitting the air conditioning and constructing a swimming pool as the property is being built.
Question-‘What rate of IVA should I be paying on these two items- 7% or 16%?’
Is there specific Govt. guidance on this issue?
I would appreciate any help/pointers.
- June 24, 2005 at 11:00 pm #58421
- June 25, 2005 at 10:28 am #58423
When you buy a piece of land from a professional land broker you pay 16% IVA ; from a private person you pay 7%.When you buy a new house and a piece of land from a professional land broker you only pay 7%. When you first buy the land you pay 16% IVA, even when you build a house on it later. The tax for the new house is 7% IVA. When you build a garage or a swimming pool together with the house, you also pay 7%. When you build a garage or a swimming pool at an existing house you pay 16% IVA.”
Hope this is of help
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