New TVA (VAT) rules for leasebacks

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New TVA (VAT) rules for leasebacks

As all leaseback owners will know by now there has been a change to the TVA/VAT rules since October. Up to then we received our appartment (and parking) rent from the MC inclusive of TVA. We then had to repay this TVA the following year in the form of a vat return.We were essentially VAT registered. Since then however we are receiving our rent without the vat. Hence the slight reduction in rent for the last quarter and for the future.

Are we now classed as not registered for TVA? Do we still have to make a return?

This is important as we could claim back vat on accountants fees etc as part of the annual return. Can we still do this?

Of more significance. In 2006(?) the vat law was changed so that if a lease back was sold as a leaseback (ie the new owner continued with the lease contract) the TVA (or a fraction of it) did NOT have to be repaid to the government. If we are now not vat registered will this have the effect of bringing this repayment back into play? ie if we sell will the partial vat element be repayable?

 

If anyone can help out please reply.

 

Thanks.

I think that you are still VAT registered, but the

government wants the vat for all non-residents to be paid

directly to them. I presume that your accountant should

still complete a vat return you may still have paid vat on

any management/ownership fees.