- Draft of practical adjustments to the VAT Act on the topic of demolition and soil remediation costs
- Deadline for comments: July 29, 2024
- VAT Industry Info 04 Construction Industry
- Focus on new construction and renovation of buildings for sale, rental, or leasing
- Consequences of exempted real estate delivery
- Ability to claim input tax deduction during planning and construction phase for taxable sales
- Requirement to correct excess input tax deductions if not used for taxable sales
- No interest due on excess input tax deductions
- Expenses related to non-eligible sales do not qualify for input tax deduction
- Requirement to correct excess input tax deductions with interest if claimed incorrectly
- Detailed rules for correction and repayment of excess input tax deductions
Source: estv.admin.ch
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
