Maybe you are all correct and there is a difference in individual contracts. However i know that my contract specifies VAT @14% rate and if the government changes the tax law then this is considered Force Majuer (Beyond the power of the parties) in legal terms and i will have to pay.
Discount for late delivery sounds a good idea by me.
Davmel
VAT
18 posts
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by timmi_man » Sat May 02, 2009 10:25 am
I agree with davmel.
My contact also states the price ex-vat and on completion all the taxes have to be paid before the keys are handed over. There is also a clause in the contact whcih states that exchange must be made within a set time period, otherwise the seller can keep the deposits for damages.
The bottow line is that there is nothing you can do. Don't pay the taxes and the seller can keep your deposit for damages, if you pay over the 6% VAT increase your investment would cost 6% more which will reduce the yield on your investment.
My contact also states the price ex-vat and on completion all the taxes have to be paid before the keys are handed over. There is also a clause in the contact whcih states that exchange must be made within a set time period, otherwise the seller can keep the deposits for damages.
The bottow line is that there is nothing you can do. Don't pay the taxes and the seller can keep your deposit for damages, if you pay over the 6% VAT increase your investment would cost 6% more which will reduce the yield on your investment.
- timmi_man
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18 posts
• Page 2 of 2 • 1, 2
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