General settings
The general settings are only available for the system administrator.
Real Estate Transfer Tax
Real Estate Transfer Tax (RETT) is included in the acquisition cost capital value. When the discounted method is used for valuation, RETT also forms part of the acquisition cost terminal value. These values can be set as defaults in the application or process settings, but can also be manually selected in the property input screen.
As the RETT methodology differs per country or sector, you can create or configure a scheme as necessary here.
The data panel lists the available RETT schemes, here you can click
• Add RETT scheme to add a new scheme
• Configure scheme to amend an existing scheme
• Activate or Deactivate a scheme
When adding a new scheme, a panel in which you can fill out the scheme's details slides in.
Field | Description |
|---|
Name | Specify a name for the scheme. The name must be unique per country. |
Country | Select a country from the picklist. |
Period from | Start date of the scheme. By clicking Add period you can enter an additional periods. If there is a single period only, the Period from and Until fields will not show any dates. With 2 or more periods, you must specify the Period from date, which will automatically set the Until date. For the acquisition cost capital value, the system determines the applicable period based on the reference date of the process. For the acquisition cost terminal value, the system uses the end date of the forecast period to identify the correct period. |
Until | End date of the scheme. |
Cumulative | If you select Yes, the RETT is calculated cumulatively, carrying over from one tranche to the next. If No, the RETT will be calculated on a single bracket (this field will be read-only). |
Value from | Lower bound of the tranche (in local currency). |
Value to | Upper bound of the tranche (in local currency). If this field is empty, there is no upper bound for the RETT scheme. |
Rate | Specify the applicable percentage per tranche. |
Click Add bracket, to add a new bracket. Within a bracket, you can delete a row (one at a time; a minimum of one row must remain).
Value Added Tax
The Value Added Tax (VAT) is a value that is defined by a country as a rate for the tax that is payable to the government. Per country, various rates can apply. VAT rates are included as part of the acquisition costs in the case of a real estate development. They are also used to define the VAT applicable to operating expenses (see
VAT expenses).
The data panel lists the available VAT schemes. Here, you can click:
• Configure scheme - to amend a scheme
• Add scheme - to add a new scheme
• Activate or Deactivate a scheme
When you add or modify a VAT scheme, a panel in which you can fill out the scheme's details slides in.
Field | Description |
|---|
Name | Specify a name for the scheme. The name must be unique per country. |
Country | Select a country from the picklist. |
Start date | Specify a start date. With two or more periods, the period dates need to be specified. • You can only set the Period from date, and this will automatically set the Period to for the related period. |
End date | Specify an end date. |
Rate | Specify the tariff's percentage rate (per period). |
You can delete a row (one at a time; a minimum of one row must remain).