The finance ministry is planning to impose a 2-tier VAT rate for purchases of new housing: 7 pct and 22 pct - depending on the size of the residence. Apartments up to 120 sqm and houses up to 200 sqm will fall within the lower VAT bracket, whereas those of greater dimensions will incur the full 22 pct. The change to the VAT law has been prompted by an EU directive which comes into force at the beginning of 2008.
(Source: ‘Gazeta Wyborcza’, Gospodarka, November 2006)
(Source: ‘Gazeta Wyborcza’, Gospodarka, November 2006)