Doonbeg Golf Club Real EstateSuites - Frequently Asked Question:8. Will there be a VAT duty on my purchase of a Suite? Yes. Ireland's Value Added Tax ("VAT") currently at 13.5% will be payable (on a "one time" basis) by Purchaser in addition to the purchase price. However, to the extent that the Suite is made available for overnight leasing/rental, this VAT can be reclaimed proportionate to the number of weeks per year that the Suite will be made available for overnight leasing/renting. [All Rental/Letting arrangements will be organized through Doonbeg Golf Club or its designee.] For example, if the Suite is made available for rental 48 out of 52 weeks per year, then 48/52 of the VAT can be recovered by the Purchaser right away. To obtain the VAT refund, a commitment will be given by the Suite owner as to minimum periods of availability for rental. Doonbeg Golf Club or its designee will then deliver for you to the Irish VAT authorities that documentation so as to obtain the amount of refund. |
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