VAT on rentals

[VocalNeal]

Will someone confirm as I have been told that VAT on rentals is 2% not the std. 7%

[blackcab]

Rental of what? Vehicles, land, an apartment?

[VocalNeal]

Event booth.

Why are cars, Land, apartments different

[blackcab]

I have no idea why an event booth would attract a 2% VAT rate. I didn't even know there was a 2% rate.

The lease of fixed objects (such as land or apartments) is VAT exempt, so:

Vehicles = 7%

Land = 0%

Apartment = 0%

Question is, are you being leased floor space only (exempt) or the physical booth (7% if it can/will be dismantled)?

If you receive electricity that's 7% too.

[VocalNeal]

Ok thanks. It sounds like it is a load of <deleted> I am being fed. As you say i only know of 7% and withholding tax etc..

I'll forget the whole thing and just go with the flow.

[onthemoon]

Are you sure that the people you talk to don't confuse VAT and WHT (Withholding Tax)? There is a 2% WHT rate, but I always get confused whether it's 1%, 2% or 3%. Maybe 2% applies in this case?