European tax bulletin for Real Estate Funds: December 2011 |
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- December 2011
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European tax bulletin for Real Estate Funds: December 2011- Area: Real Estate Funds
This bulletin aims to highlight key tax issues which may be of importance to real estate funds and investors.
The December 2011 edition of the European funds bulletin for Real Estate Funds includes news on:
- France:
- Negotiations on the Luxembourg-France double tax treaty regarding the treatment of capital gains on shares in real estate companies
- French real estate transfer tax on the acquisition of shares
- Financial expenses relating to the acquisition of participating shares
- Temporary 5% increase in French corporate income tax rate
- Real estate capital gains for individuals
- SIIC shares held by individuals
- Belgium:
- New Belgian tax measures affecting Real Estate Funds
- Germany:
- EU Directive on recovery of tax claims implemented into German law
- Tax authority working group finds most changes to loss carryforward and group taxation rules too expensive
- New case law on valuation questions in the context of shareholder loans
- Tax Court rejects constitutional concerns regarding interest deduction limitation rule
- Federal Tax Court rules income from U.K.-based private equity fund exempt from German taxation
- UK:
- REITs update – draft Finance Bill clauses published
- Italy:
- Guidance issued by the Italian tax authorities on the real estate fund regulations introduced in 2010 and 2011
- New local tax on real estate
- Notional interest deduction (“ACE”)
- New tax losses carry forward provisions
If you would like to receive previous editions of the European funds bulletin, please email us.
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European tax bulletin for Real Estate Funds: December 2011 (PDF)
