Tax and regulatory measures to mitigate the effects of COVID-19 for the European Real Estate industry
In case of a hard Brexit, many technical changes need to be made to UK tax rules that currently interrelate with EU law. A mapping exercise has been completed to summarise the tax-related impacts of a hard Brexit on non-listed real estate.
On July 11, in an important step for non-listed real estate investment funds, the OECD released draft contents of the 2017 update to the OECD Model Tax Convention. In the draft, the OECD took notice of the comments INREV and others made. Several relevant changes now appear in the real estate example.
The OECD and European Union are progressing with important changes to critical tax regulations.
View our tax snapshot to keep up to date with INREV’s response to the OECD BEPS project consultation, and find out more about the expected impact of the Anti-Tax Avoidance Directive recently agreed by the EU Council.