Tax reduction for investment in tourist residences: rate raised from 15% to 25% and extended to renovated dwellings

Article 9 of the 2004 Finance Act amends the tax reduction for buying new dwellings in classified tourist residences in rural revitalisation zones (Article 199 decies E of the General Tax Code): the rate rises from 15% to 25%, investment ceilings from €45,760 and €91,520 to €50,000 (single person) and €100,000 (married couple), and reduction ceilings from €6,864 and €13,728 to €12,500 and €25,000. It creates Article 199 decies EA, giving a 20% reduction for buying dwellings completed before 1 January 1989 and renovated, and raises the Article 199 decies F rate for works from 10% to 20%. These rules apply to dwellings acquired or completed from 1 January 2004.