Real Estate Academy 2021

During this Real Estate Academy, our experts explore together with you recent developments, Tax & Legal changes and evolutions in real estate. Besides the regulatory changes in the new reality, we also want to explore the road to a sustainable real estate sector with insights from our Advisory team.

On this page you can revisit our different webinar sessions that took place from 23 March to 30 March 2021.

• The reduced VAT rate of 6% for residential demolition and reconstruction
• The impact of COVID-19 on your lease agreement from a legal, tax and accounting perspective
• SDG’s – the road to a sustainable real estate sector

Should you have any further questions or comments please reach out to our experts listed below.

To stimulate the construction industry and make it easier for people to access affordable living, the existing reduced VAT rate of 6% for demolition and reconstruction of private houses has been extended to the entire Belgian territory. The extended scope is limited in time and also subject to various conditions, such as those linked to the social character of the measure.

Below you can find the key takeaways.

• The 6% VAT rate for demolition and reconstruction will apply for the years 2021 and 2022. For projects that already started earlier but continue in 2021 and 2022, it can still be possible to (partially) apply the 6% VAT rate.
• In order to apply the 6% VAT rate, a thorough examination of all legal requirements is needed. The devil is in the details!
• Mainly the condition that the old demolished building should be significant compared to the newly constructed building gives rise to a lot of uncertainty.
• The same goes for the condition that the old demolished building and the newly constructed building must be located on the same cadastral parcel.
• In their most recent FAQ, the VAT authorities have taken a rather flexible approach in respect of split sale constructions whereby a right to build is granted to the construction company. This is related to the condition that the demolition of the old building and the construction of the new building should be done by the same person.
• In case of uncertainty, it is advisable to obtain a ruling / administrative agreement.

The COVID-19 pandemic challenges the contractual lease obligations for both landlords and tenants. During this webinar, we discussed the applicable legal framework, the latest case law on force majeure and the legal arguments determining the discussions on rent relief, rent deferment or waivers. We also address reduced or deferred rental payment obligations from a tax and accounting perspective.

Click here to access the key takeaways

Worldwide, our industry emits almost three times as much CO2 as the airline industry. In 2015, the United Nations defined 17 Sustainable Development Goals (SDG’s) to achieve a better future for all. Real Estate companies play a significant role in reaching these goals and the topic of sustainability is gaining importance on strategic agendas. During this webinar we looked at the issues and challenges the real estate sector is facing with regards to the SDGs, as well as the possibilities and potential actions you can take to address them.

Below you can find the key takeaways.

• Successful sustainability strategy reconciles dreamers and doers
  Simultaneously invest for the next 1-3 years while understanding disruptions and shifts for the next 10 to 15 years.
• Sustainability is (and will remain) a C-level business imperative
  It is a driver for commercial opportunities and cost reduction, going beyond regulatory hygiene and simple risk mitigation.
• Focus on what matters
  Sustainability qualifies as veritable business transformation with a need to anchor a limited number of critical initiatives, e.g. R&D, product development, supply chain,...
• Engage enablers in support of transformation 
  Actively leverage the critical enablers that will make the transformation successful, e.g. KPI and target-setting, operating model, monitoring and reporting, communications, … .