Short answer: Investors are mainly affected by the air space disclosure reform and, if they develop, the construction VAT reverse charge.
Key points
- Model rental yield on net income after tax and costs.
- Development deals involving air space face fuller price disclosure.
- Company structures follow company tax rules, including the proposed 25% retained-profit rate.
Budget 2027 measures
Taxation of air space transfers
New rules require fuller disclosure of the total price in development deals involving the sale of air space.
Proposed rules; implementation not confirmed.
Speech printed p. 42 · PDF p. 46
VAT reverse charge in construction
For covered construction transactions the buying business, not the supplier, accounts for VAT.
Proposed rules; implementation not confirmed.
Speech printed p. 43 · PDF p. 47
Small company 25% tax on retained profit
A 25% tax rate on retained or reinvested profit is announced for qualifying companies with turnover not above €1 million, compared with 35% on distributed profit.
25% on retained profit
Proposed rules; implementation not confirmed.
Speech printed p. 34 · PDF p. 38