New Lower Spanish VAT Rate For Completions from Now until DEC 31st

Hi All, The good news that the Corvera Golf Clubhouse and Golf Course will open in April 2012 has been followed by the news that the Spanish Government are lowering VAT on all new property sales from 8% down to 4% from now until the end of 2011 to stimulate the property market. See the feature link below:-

http://www.simplynetworking.es/news-7757-31-vat_on_new_spanish_properties_to_fall_from_8_to_4.html

So if you are still considering whether to complete your purchase at Corvera Golf it might now be time to come over and have have a look at the resort for yourselves, the resort is actually looking great at the moment and the sight of the builders at work again on the clubhouse is a sight to behold. It's still free golf for owners at the moment so bring your golf clubs if you are coming out !

It'll be really interesting to see if the tax man considers the Corvera properties as 'NEW' seeing as they have had the first occupation licences for two years already ?

The properties will be regarded as new for the lower rate of VAT (IVA) as the VAT (IVA) applies to when the property purchase is completed at the Public Notary.

Nothing to do with first occupation licences.

Good news for those completing before Jan. then.anywhere between 6'500 and 12'000 euros saving, and the clubhouse/facilities near completion by then.