EU COMMISSION TABLES VAT CONCESSIONS FOR HOUSE RESTORATION
August 1st, 2006
BY KEITH NUTHALL
THE EUROPEAN Commission has asked European Union (EU) ministers to authorise until January 2011 the right of the Isle of Man and 13 foreign EU member states to levy low rates of VAT on certain building repair services. This would extend a popular experiment in promoting labour intensive services. For some long established member states, such as Britain, this exemption from standard VAT rates has run since 1999, being renewed every two or three years. Now the Commission wants the tax breaks approved longer: the Isle of Man, has for instance been ...
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