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VAT changes

Language: English Series: Financial Times ; 4/7/89 p8Publication details: 1989Subject(s): Summary: The government has announced that VAT on new construction will be based on the historic cost of the land plus construction costs and not on the open-market value of the land after completion. These changes will benefit banks, financial institutions and private hospitals and schools.

The government has announced that VAT on new construction will be based on the historic cost of the land plus construction costs and not on the open-market value of the land after completion. These changes will benefit banks, financial institutions and private hospitals and schools.