VAT reform would promote CO2 emissions reductions, more sustainable building & cost nothing – so why the delay: a Project Compass response to the Climate and Biodiversity Emergency objectives defined in ARCHITECTS DECLARE
Research output: Contribution to specialist publication › Article
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VAT reform would promote CO2 emissions reductions, more sustainable building & cost nothing – so why the delay : a Project Compass response to the Climate and Biodiversity Emergency objectives defined in ARCHITECTS DECLARE. / Menteth, Walter.
In: Project Compass, 26.07.2019.Research output: Contribution to specialist publication › Article
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TY - GEN
T1 - VAT reform would promote CO2 emissions reductions, more sustainable building & cost nothing – so why the delay
T2 - a Project Compass response to the Climate and Biodiversity Emergency objectives defined in ARCHITECTS DECLARE
AU - Menteth, Walter
PY - 2019/7/26
Y1 - 2019/7/26
N2 - Reforming VAT has for too long provided opportunity to incentivise sustainable construction. This means redressing the long-standing skew in favour of new build over refurbishment. Current VAT rates, typically 5% for new construction & 20% for refurbishment, distort the market in favour of new build. VAT is a powerful tool which must now be used here & abroad to help accelerate low-carbon sustainable construction. This is because the majority of built environment C02 emissions emanate from existing buildings, yet because their embodied energy exists this doesn't contributes further to CO2 emission.
AB - Reforming VAT has for too long provided opportunity to incentivise sustainable construction. This means redressing the long-standing skew in favour of new build over refurbishment. Current VAT rates, typically 5% for new construction & 20% for refurbishment, distort the market in favour of new build. VAT is a powerful tool which must now be used here & abroad to help accelerate low-carbon sustainable construction. This is because the majority of built environment C02 emissions emanate from existing buildings, yet because their embodied energy exists this doesn't contributes further to CO2 emission.
KW - VAT
KW - GST
KW - construction
KW - taxation
KW - architecture
KW - procurement
KW - sustainable
KW - CO2 Emission
M3 - Article
JO - Project Compass
JF - Project Compass
PB - Project Compass CIC
ER -
ID: 15802699