hello
Is VAT payable by buyer in the following instance where
- seller opted to tax land
- land has attached timber
- seller had small forestry business
- buyer does not have intention of using the land for commercial purposes
- buyer is not VAT registered
- buyer intends to use land for personal/private use and to replant felled areas
- buyer may sell some timber as an incidental to clearing and replanting parts of the land in connection with land and timber management
I have read the various VAT notices, but the answer is unclear to me. In addition to Notice 742A, VAT 1614, Notice 700/9, what other documentation should I read.
Thank you in advance for any and all advice!
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