VAT Refund on Furnishings?

Discussion in 'European Property' started by Slane, Dec 2, 2012.

  1. Slane

    Slane New Member

    We bought an apartment in Paphos in 2008 which was completed in 2010. We originally kept it for our own use then briefly used it for holiday lettings. It is now let long term. My wife heard that we can claim a refund on the VAT on the furnishings. Is there any truth in this?
     
  2. Veronica

    Veronica Administrator

    Unless you have a business that is registered for VAT you cannot claim VAT back on anything.
     
  3. Slane

    Slane New Member

    Succinct, thanks. Perhaps they meant tax relief?
     
  4. Veronica

    Veronica Administrator

    Do you mean if you sell the apartment?
    If so again you can't get tax relief but if selling with furniture if you have a separate contract for the furniture if you are liable to capital gains tax you won't have as much to pay.
    However I would very much doubt whether you would have any capital gains to pay as prices have dropped so much in the last few years so you are unliek==kely to be making any capital gains if selling now.
     
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