Planon Real Estate : RE Assets : Application settings : General settings
General settings
Real Estate Transfer Tax
When dealing with Real Estate transactions, Real Estate Transfer Taxes (RETT) are due in all countries.
As the RETT methodology differs per country, 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.
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 country's currency).
Value to
Upper bound of the tranche (in country's 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.
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
Country
Select a country from the picklist.
Tariff name
Enter a descriptive name for the tariff. The name must be unique per country.
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).