Some companies are the leader in the development of real estate projects, being appreciated in the field by obtaining renowned awards such as Investor of the Year at the Real Estate Gala 2019 or Best Office 2020 Project.
This real estate developer is proud of its portfolio that offers a wide range of residential and office projects, each designed to meet the most demanding demands. Its purpose is to redefine the concept of “urban lifestyle”, introducing on the Romanian market a mix of projects ranging from modern, with high-end and smart-home concepts, to those that celebrate the history and preserve the architectural style. of past buildings.
Canning hill pier development develops its projects around four main values: Quality, Integrity, Community, and Innovation, thus offering exceptional buildings, at the highest standards. Its mission is to bring on the Romanian market real estate projects that go beyond the norms of the industry, meant to offer the future while preserving the charm of the past.
Builders and developers have different functions.
Understanding the differences of each role is very important for the future beneficiary of the construction work, which can make his life much easier.
What is a construction company?
A construction company is responsible for managing the construction works
According to the accepted definition, construction works include the actual construction, reconstruction, extension, superstructure, as well as works related to the reconstruction, assembly, renovation, or demolition of a building.
She has to carry out the project, buy materials and hire the people who will work.
It must also be ensured that the work is carried out without imperfections. You can also check the official website – canninghill piers for more details. It is very common for a construction company to be hired by a developer to carry out the necessary construction work.
When hiring a construction company, the person or company is responsible for all issues related to the project.
What is a construction developer?
A developer is an entrepreneur who deals with the implementation of investments in construction. This means that he first buys the land, creates the real estate project with the help of architects, and obtains the necessary permits. Then he acquires the necessary capital and builds real estate. Finally, he is the one who manages the built object, which he sells or rents in whole or in part, as the case may be.
In formal terms, it can be both a natural person and a legal entity that builds real estate, although not necessarily residential. There are developers who build office buildings, commercial and industrial facilities that can operate in the market.
The new building tax is ruining some real estate developers
Real estate developers who have built their homes per individual, feigning Value Added Tax now pay additional amounts as a tax on multiple residential properties. The end of September meant for the owners of several houses a payment term that seriously eased their pockets.
Those who built more homes per individual escaped through the ears of the needle paying retroactive VAT for their properties.
Now, however, these developers pay tax for each house in addition to the one in which they live. In principle, the developers targeted by these new measures do not have a problem with the amount of tax to be paid, but it is difficult for them to calculate how much they have to give now. You can also check the canninghill piers’s price to get a beautiful condominium. In order to increase the revenues of the local budgets in the current economic and financial context, it is proposed to increase both the tax on buildings and the tax
Tax for five years
Regarding the budgetary impact of the tax increase, it was estimated “both in the short term, for the current year, and in the long term (for five years)”, as stated in the substantiation note. Thus, it is estimated additional revenues of almost 50 million lei for the remaining months of 2010 and 101 million lei for 2011. And before the Ordinance, increases were imposed “in the case of persons who own two or more buildings, used as housing and which are not leased to another person “. Therefore, you do not pay surcharges for additional properties as long as they were rented. By the last Ordinance, this exception was eliminated.
Exceptions from the increased tax
Persons who own two or more buildings, but acquired by legal succession, do not pay an increased tax. In the case of owning two or more buildings other than the one at the domicile address, the increased tax is determined according to the order in which the properties were acquired. The non-increased tax is paid only for the building at the home address. The persons who pay the increased tax must submit a special declaration to the local public administration in which they have their domicile or to those in which the other buildings are located. Prior to the last changes, the persons who rented the building did not pay an increased tax. The exception has been removed so that the tax applies to individuals who own two or more buildings for rent.
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