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    VAT application on off-plan property booked in 2016

    Thanks for your response. Unit is going to be handed over in 2 weeks time. There is clause in SPA (Sales and Purchase Agreement) which says the builder may delay the handover for 1 year without penalty. There is also a clause in SPA which says the purchase price Excludes VAT. And incase VAT...
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    VAT application on off-plan property booked in 2016

    Hello All, I booked an off-plan serviced apartment unit in 2016. The unit was supposed to be handover by Dec 2017. I fully paid the purchase price to the builder in 2017. Now builder is handing over the unit in 2018 and asking me to pay 5% VAT. I understand that being a serviced apartment...
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