"END TAX BENEFITS IN THE CONSTRUCTION OR coins GOVERNMENT CHANGE?
The government has announced a draft law which aims to reduce the exemption from VAT on construction. They have done so because they must get from somewhere the money needed to cushion the fuel tax rebate, that is the typical "going and going."
What does the current tax benefit? Today
construction companies, one of the main drivers of the current Chilean economy, benefit from a tax benefit is as follows:
invoice construction companies to real estate in these bills VAT is 65% discount. Because of this housing has a lower cost and therefore a lower sale value.
But the government wants to end this benefit through a bill submitted Congress.
The central idea is to restrict the tax exemption of VAT. Can only access this franchise properties whose prices are less than 2,000 uf, to date it is $ 39,578,740.
The buildings between 2,000 and 4,000 UF will lose this benefit gradually.
A property of 4,000 uf, to date is $ 79.1576.480, that is a good apartment of three or four bedrooms, but never a high-class house.
is believed that between 3,000 and 4,000 homes UF will rise from 8 to 10 million, which is really a bad news for families seeking to buy a house (as it will have to borrow more money in the Credit mortgage).
Who Lose: The middle-class families, who with great effort to buy a property.
Who Wins: Banks, since they must pay more money, so they earn more interest.
The property in excess of 4,000 UF will lose the benefit altogether.
The truth is I do not want to do a political analysis of the government, but I think this project is a failure on the part of our authorities.
I hope it is rejected by the Senate.
Sources:
www.portalinmobiliairo.cl.
www.
senado.cl www.cchc.cl (Chilean Chamber of Construction).
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