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Immovable Property — Immovable VAT Rules

Martin Scammell, Ernst & Young LLP, London, discusses the problems for the property industry as a result of accession

 
Martin Scammell Ernst & Young LLP London discusses the problems for the property industry as a result of accession
 
On the long march to harmonisation there is one conspicuous straggler — property. This is hardly a peripheral topic: property is a major cost to most businesses and to most citizens. Yet if we look at the position across the new EU it is hard to find any important point on which there is uniformity of VAT treatment.
 
Several of the ten new Member States have changed their rules in the run up to accession. But we might almost wonder why they bothered — the end result is only slightly greater...

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