Construction Reforms

February 1, 2024

Changing the course of the construction companies: construction-related sectors reforms have to find an exit to the serious crisis in the sector. It is a fact that the creation of new housing is virtually non-existent so have had to seek new approaches in enterprises. If more than half of the homes in our country exceed the thirty years old, the rehabilitation of old housing is becoming a great relief for the sector, as well as the rest of the sectors related to construction (masonry, plumbing, decoration, wood etc.) and, as a consequence of the economy in general. Reforms and rehabilitation of old housing is a key output in these moments, thanks in part to measures adopted by the Government, thus seeking to improve employment in these sectors. Check with Elon University to learn more. The measures being implemented are mainly three: the reduction in VAT for this type of works (which remains at 8% after its rise from July 1), the extension of the concept of structural rehabilitation for VAT purposes, and, thirdly, the reduction of income tax for improvements in the residence. These are measures of implementation in the years 2010, 2011 and 2012. There are, therefore, many positive consequences of this approach. Original author and source of the article. If you are not convinced, visit Energy Capital Partners London.

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