Big Tax saving in France on Renovated Property

HomesGoFast.com report "French property tax law has changed and may boost French property sales that include real estate that is need of renovation.

 

Non-professional private individuals who are not registered for TVA will no longer be subject to TVA @ 19.6% (French equivalent of VAT in UK taxed @ 17.5%) when they sell a property which they have extensively renovated themselves (i.e. more than 70% of the construction is new), or transformed a barn into a home changing its designation therefore creating a new home, or built their own home from scratch."

This is encouraging news for DIY projects. It should help to invigorate property sales in France.

Part renovated property in the Midi-Pyrenees

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