VAT on home construction over 200 square meters
Posted: 14 Aug 2019 21:12
Hello,
According to the law VAT is only 5% for the first 200 square meters of a house and 19% for every square meter beyond that. If you will build a house greater than 200sq.m. they estimate the VAT rate that you will be paying.
Does anybody know the exact formula that is used to find this rate?
Online I found the following: (200/(house_size*5%)+(house_size-200/house_size*19%)
So say for a 210sq.m. house it would be (200/210*5%)+(10/210*19%) = 5.66%
Is this correct?
Thanks!
According to the law VAT is only 5% for the first 200 square meters of a house and 19% for every square meter beyond that. If you will build a house greater than 200sq.m. they estimate the VAT rate that you will be paying.
Does anybody know the exact formula that is used to find this rate?
Online I found the following: (200/(house_size*5%)+(house_size-200/house_size*19%)
So say for a 210sq.m. house it would be (200/210*5%)+(10/210*19%) = 5.66%
Is this correct?
Thanks!