Recent Changes and Tax Planning Considerations in Real Estate Transactions Scott Antel, Partner AmCham Tax Seminar 23 October 2005. VAT Changes. Self Construction Current Rule: - Self assess output VAT when placed in service - Offset input VAT when paid
-Self assess output VAT when placed in service
- Offset input VAT when paid
Rule for 2006:
- Self asses output VAT on last day of tax period
- Offset input VAT when booked in accounts
Current Rule: Offset VAT only when building placed in service
Rule for 2006: Offset when booked in the accounts
Possibility to offset prior incurred, but not offset, VAT
- Lessor if lessee reimbursed
- Lessee if not reimbursed
DLA MW Limited. Partner Scott Antel
Sale I.P. Intangibles
3) Purchase of New Co. (or Offshore Hold Co.)
1) Asset sale or contribution by Hotel OPCO to New Co.
2) Sale of new Co.