Real Estate

Contents

1. Real Estate Guidance

1. 1.1. Overview

   1. 1.1.1. Short brief

   2. 1.1.2. Purpose of this document

   3. 1.1.3. Who should read this document?

   4. 1.1.4. Status of the document

2. Supplies of Real Estate

1. 2.1. What is real estate

   2.2. What is a supply of real estate?

   2.3. Summary of the VAT liability of supplies of real estate

3. Residential buildings

1. 3.1. Definition

   3.2. First supply of a residential building

   3.3. Subsequent supplies of residential buildings

   3.4. VAT Liability of service charges relating to residential buildings

   3.5. Are Labour camps residential buildings?

   3.6. Supply of accommodation in labour camps

   3.7. Purchase of residential buildings off plan or prior to completion

   3.8. Farm houses

   3.9. Conversion of a building into a new residential building

4. Charitable buildings

1. 4.1. Definition

   4.2. First supply of a charitable building

   4.3. Subsequent supplies of charitable buildings

   4.4. What is a relevant charitable activity?

5. Bare land

1. 5.1. Definition

   5.2. VAT liability of bare land

   5.3. When does construction reach a stage where it is considered to be a partially completed building?

   5.4. When is land covered by civil engineering works?

   5.5. Farm land

   5.6. Leasing bare land for development

6. Commercial Real Estate

1. 6.1. Definition

   6.2. VAT liability of commercial real estate

   6.3. Cancelled developments

   6.4. Payment of VAT on sales of commercial real estate

7. Mixed use developments

1. 7.1. What is a mixed-use development?

   7.2. VAT recovery on development costs

   7.3. VAT recovery on repair & maintenance costs

   7.4. Can a piece of land be for mixed use?

8. Owners’ Associations and Management Entities

1. 8.1. What is an Owner’s Association or a Management Entity?

   8.2. Is an Owner’s Association or Management Entity required to be registered for VAT purposes?

   8.3. VAT treatment of supplies made by Owners’ Associations and Management Entities

9. Development infrastructure

1. 9.1. Infrastructure works undertaken by master developers

2. 9.2. VAT recovery on infrastructure costs

10. Supplies between landlords & tenants

1. 10.1. Inducements

2. 10.2. Rent-free periods

3. 10.3. Lease surrender

4. 10.4. Lease variation

5. 10.5. Landlord contributions towards tenants' costs

6. 10.6. Dilapidation payments

11. Place of supply

1. 11.1. Place of supply of real estate

2. 11.2. Place of supply of real estate related services

3. 11.3. Non-resident landlords

4. 11.4. Real estate within a Designated Zone

12. Construction industry

1. 12.1. VAT liability of construction services

2. 12.2. Date of supply in the construction industry

3. 12.3. Retention payments

4. 12.4. Snagging

5. 12.5. Partially completed buildings