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In preferential settlements, VAT on house construction can be claimed based on the invoice issued as of the first day of 2018; Among other things, this is also included in the government decree that contains the details.
On Tuesday, Katalin Novák, the minister without a portfolio responsible for families, announced on her community page that the state will reimburse the VAT content of construction and land bills up to five million guilders starting in January. With this, the state will also contribute five million florins to self-sustaining buildings, the minister informed the MTI.
The government decree on this was already published in the Hungarian Gazette on Tuesday. This makes the VAT refund subject to the following conditions:
- a new home with a usable area of no more than 150 square meters, or
- the purchase or construction of a new single-home residential building with a usable area of up to 300 square meters,
- claim a homestead discount.
Has to be tested
- the purchase price, including the price of the land, or
- the cost of entry into the budget approved by the credit institution.
The time to issue a recoverable invoice is divided into two parts by law.
In the first case, the builder of a new apartment built in the preferred small settlements, or the buyer of the land there, can claim the VAT included in the invoices issued between January 1, 2018 and December 31, 2022, if it is 27 percent. In this case, a maximum of 5 million HUF of VAT can be claimed.
In the second case, VAT can be claimed on the basis of an invoice issued from January 1, 2021, until December 31, 2022 at the latest, if the VAT is 5 percent. The decree can (also) be interpreted in the sense that in this case there is no limit of 5 million HUF, the entire VAT content can be claimed.
VAT can only be claimed once.
Katalin Novák also announced that in the future, retirees will also be able to claim the chocolate if they meet all the conditions and work in addition to retirement. He cited as an example a situation in which retired grandparents are raising their grandson and one of them works alongside him. Although property purchased with a check cannot be sold or given away for ten years, in the future parents will be able to rewrite it in the name of their children during the ten-year alienation ban, the MTI told Novák.
It is also new that the foreclosure will be enforceable for various existing residential mortgages. Thus, families can enforce the one million forint exemption for the second child and the four million forint exemption rate for the third child or more, divided between several smaller home mortgages, the minister said. The mortgage exemption option already applies to construction loans.
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