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You fancy a listed building as a prestigious company headquarters? It is also attractive from a tax perspective. You may claim enhanced depreciation for 12 years and reduce your tax bill:
Years 1 - 8: 9% p.a. Years 9 - 12: 7% p.a. (compared to 3% for most other buildings)
The relief applies to construction costs for works that are necessary, in terms of type and scope, to preserve the building as a listed monument or for its appropriate use (section 7i EStG) - for example, facade restoration costs.
The requirements for these depreciation allowances are:
- The building must be situated within Germany.
- The qualifying expenditure must be certified by the competent authority (e.g. the monument protection authority, Denkmalschutzbehörde).