Published at: 2012-01-01 12:00 | Author: Wojciech Kość
Rather than fighting EU instructions to remove housing from its lower VAT rate, the Poles have provided a master class in loophole management. Its social housing definition will apply to all but the hugest of homes.

The uncertainty over the potential 15 percent hike in the VAT rate won’t be haunting home buyers any longer. The Ministry of Finance’s feud with its construction counterpart ended with an agreement that would keep all “social housing” in Poland’s lower VAT band of just 7 percent. The European Union tolerates such exemptions, and it leaves the definition of “soc...

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