The Ministry of Development is working on proposals for housing loans with low interest rates. The state is interested in this, because for each new apartment it costs 400 thousand zlotys, the tax service collects almost 150 thousand. zloty. Significantly less income brings an apartment in the secondary market.
According to Deputy Minister of Development and Technology Petr Ushchinsky, the ministry is analyzing the situation on the housing market and is working on a proposal for preferential housing loans. This decision concerns people who buy their first apartment. This support, as noted by Business Insider Polska, is due to the fact that the worsening situation on the housing market affects not only developers, but also the state.
Almost PLN 150,000 for the tax office
- Almost 148,000 PLN - in total, the tax office can collect so much when buying a new apartment worth 400,000 PLN. złoty - - lists Bartosz Turek, chief analyst at HRE Investments, who is quoted by the portal, adding that support for this sector may simply pay off for the government.
The expert notes that buying, and then finishing and furnishing an apartment is a costly operation, and taxes arise at each stage (personal income tax, VAT, CIT or, for example, personal income tax).
The largest tax revenues are generated when buying from a developer, where most of the cost of the premises is VAT and income tax. In the case of an apartment worth 400 thousand, the value added tax alone (8 percent VAT) is almost PLN 30,000. zloty. As for income tax, according to the website, it is 19 percent. from the net price of an apartment worth PLN 400,000 gives an amount of more than 70 thousand. zloty.
- Of course, after the sale of the premises, the developer will not have to pay the entire amount of tax himself, because he has incurred significant costs in doing business and building. However, you should be aware that a developer’s expenses are the income of its employees, suppliers, contractors, and service providers. You also pay taxes and social security contributions. They can be taxed in different ways, and by spending their income, they bring additional income to the budget - Turk explains.
Apartments on the secondary market - lesser benefits
Budget incentives are much smaller in the case of apartments from the secondary market, and this is due to the fact that most of the income tax and VAT that make up the price of a new apartment is excluded. – Budget revenues from the purchase of a used apartment worth PLN 400,000 on credit. PLN can be estimated at about 53 thousand. złoty - emphasizes the chief analyst of HRE Investments.
Bartosz Turek notes that the construction sector accounts for about 10 percent. GDP of Poland. Thus, a well-chosen housing program can pay off for the government not only in terms of tax revenue, but also in terms of stimulating economic growth.
Source: Wprost
