roddie
Apprentice
Joined: 22 Feb 2007
Posts: 4
|
 Posted: 12/13/07 - 11:40 Post subject: |
 |
|
| I am in a construction business for over 10 years. It is going very well, my business partners respect me and they know that they can always rely on me. I started to consider the idea of doing business abroad. I am aware that it is risky and that I could have some difficulties, but the fact is that property prices are continuing to rise every year and I’m willing to try. I would like to know something about VAT on overseas property. What costs, fees and taxes should I take into consideration? |
|
ruthy
Apprentice
Joined: 31 Mar 2007
Posts: 3
|
| Posted: 01/12/08 - 02:51 Post subject: |
|
|
| Well, there are a number of costs you should expect: purchase costs, local property tax, VAT… When you’re buying property, there is transaction tax. I believe that as a constructor, you will be expected to pay tax at a greater rate then common citizens. You should also expect profit taxes which are levied on the profit you make when you sell property. VAT is charged when you, as a developer, sell the property to a buyer. The imperative is to understand the VAT regime of the country you’re buying in. |
|
