04.08.2015 Builders to treat customer retentions as bad debts The finance ministry has decreed that builders may reduce their taxable turnover by the amount of a customer retention that cannot be collected for two to five years, unless they could have satisfied their customer’s need for security with a bank guarantee. Categories: Official PronouncementsKeywords: builder, building, customer retention
04.08.2015 Building installation continues to be VAT-able as building The finance ministry has directed tax offices not to follow a Supreme Tax Court judgment restricting a reverse chargeable building installation to items of major significance for the construction, continued existence, maintenance or use of the building. Categories: Official PronouncementsKeywords: reverse charge, building, installation
12.11.2014 Smoke extractor not part of building The Supreme Tax Court has held that a smoke extraction assembly is an installation in a building, rather than part of a building, and thus subject to mainstream VAT. Categories: Supreme Tax Court casesKeywords: reverse charge, building, installation
01.10.2014 Demolition provision accumulates straight-line over entire p ... The Supreme Tax Court has held that a demolition provision to meet an obligation to return land to the owner in its original state at the end of the lease must be reduced as necessary to reflect the new expiry date, if the lease is extended. Categories: Supreme Tax Court casesKeywords: building, demolition, long-term lease
13.05.2014 Reverse charges in the building trade The finance ministry has amplified its acceptance of a Supreme Tax Court judgment on building trade reverse charges with changeover provisions for work straddling the changeover deadline. Categories: Official PronouncementsKeywords: reverse charge, building
12.03.2014 Building trade reverse charge only on inputs for building ou ... The Supreme Tax Court has held that the reverse charge in the building trade presupposes that the business customer uses the inputs for his own turnover in building works and services. Categories: Supreme Tax Court casesKeywords: reverse charge, builder, building
