Quagga : Commercial & Industrial Advice

Commercial and industrial investments are very cost effective to both the buyer and seller. The only additional costs for the purchase of a commercial and industrial property over and above the purchase price will be the attorney costs to transfer the property into your buying company, CC or Trust name. The sellers VAT status determines whether VAT or transfer duty is payable.

• If the seller is registered for VAT, then VAT at 14% of the purchase price is payable by the purchaser. However the purchaser can claim the VAT back from the Receiver of Revenue, and should in my experience, receive the VAT back within 4 to 8 weeks says Len Pears from Quagga Property Brokers.
• If the seller is NOT VAT registered then transfer duty is payable at 8% of the purchase price and is claimable from the Receiver of Revenue as above.