Revenue Precedent

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Revenue Precedents

A developer receives a certificate from a local authority certifying that not less than 15% of the total project costs have been incurred before 31 July 1997 and the developer sells the site. Can the vendor be regarded as the person constructing the building for section 339(2a) TCA 1997? Yes, if no change has occurred in the project as submitted by the vendors. IT983001

Is it Revenue practice to accept that site costs may be included in the computation of the cost of construction of a building for the purpose of section 339 (2a) TCA 1997? 15% means 15% of the total project costs including site costs.