Croatia is one of the EU countries which does not apply reduced VAT rates for renovation of private housing. This is why the Croatian Chamber of Craftsmen (HOK) has invited EBC to its annual meeting on construction to talk about the benefits of reduced VAT rates for the construction sector.
EBC underlines among the others:
- a direct link with job creation, as it increases the demand for renovation works
- a positive impact on law-abiding businesses, with a reduction of the competitive advantage of the informal economy
- a global trend in the market towards energy efficiency renovation works
EBC believes that governments should look at this measure to boost growth.