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A municipal company inquired whether the tax relief provided under Article 34 of the Corporate Tax Act could be applied to income from housing developments, garages, storage rooms, and commercial premises. The Directorate General for Taxes (DGT) ruled that the relief applies to social housing developments and their linked elements, but excludes commercial premises, unlinked garages, and subsidies received for land acquisition.
Question raised 1. Would the application of the relief set forth in Article 34 of the LIS be appropriate for the income obtained by the inquiring company derived from the development and management of the housing, garages, storage rooms, and premises indicated in the inquiry? Should a distinction be made between storage rooms and garages not linked to the housing? And regarding commercial premises?
The 99% relief on the gross tax liability is applicable to income from the development and management of public social housing, including garages and storage rooms linked to said housing. It does not apply to the development of commercial premises or to garages that are not linked to social housing. Furthermore, the relief does not extend to income derived from subsidies received for the acquisition of land.
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