§ Mr. WhittingdaleTo ask the Chancellor of the Exchequer if he will make a statement on his policy towards the charging of VAT on building land; and if he will make a statement. [60166]
§ Dawn Primarolo[holding answer 17 November 1998]: The sale of building land is exempt from VAT unless the person selling it has made an election to tax the supply at 17.5 per cent. VAT.
§ Mr. WhittingdaleTo ask the Chancellor of the Exchequer what assessment he has made of the Arthur Anderson report on VAT on property; and if he will make a statement. [60167]
§ Dawn Primarolo[holding answer 17 November 1998]: The report by Arthur Anderson was released by the European Commission last month and it is still being analysed by Customs and Excise. It is too early to make any assessment of its content.