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Renovation @ 6% VAT: age requirement increased to 10 years
On 01/01/2016, the age requirement for the reduced VAT rate of 6% for renovation increased from 5 years to 10 years.
To be complete, we also repeat that the property must be solely or principally used as private home and should also be billed to an end user which certifies compliance with all requirements.
Caution -> Does the completion of the works take place before 1/1/2016, the 5 years apply. This is also the case, when the invoice is sent in the course of 2016.
However, if the works are completed in 2016, the new age requirement of 10 years will apply.
Advance invoices
If advance invoices were issued before 31/12/2015, the old rules can still apply. But therefore, this advance invoice must be paid before 31/12/2015, in order to enjoy the old rules.
An advance bill in 2015 for works which only start in 2016 can still apply at 6% (if the house is older than 5 years, but younger than 10 years), but ofcourse the the advance should have normal proportions.
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