Public Affairs

INREV’s Brussels-based public affairs team increases European policy makers' awareness of the importance of our industry and represents our members’ interests in new and prospective EU legislation.

Monthly Briefing Recording Nov 2017 - commission proposed regulation on ESAs

On Thursday, 30 November, Conor Foley of Norton Rose Fulbright presented on the European Commission’s proposed regulation on European Supervisory Authorities (ESAs), which if adopted would give ESMA, EIOPA and the EBA significantly more authority.

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Monthly Briefing Recording Oct 2017 - tax-related implications of a hard Brexit

In October Public Affairs & Tax Briefing call focused on the tax-related implications of a hard Brexit on non-listed real estate investment. Anna Burchner, Partner in the tax group at CMS in London presented on this important topic. The Briefing call was held on Thursday 26 October at 9:30am CET. 

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Dutch government announces planned change to FBI tax regime

On October 10, the new Dutch coalition government agreement was published. It includes a number of tax measures, including the abolishment of the FBI ('fiscale beleggingsinstelling') status for real estate funds investing in real estate directly, which facilitates collective investments in real estate and limits taxation to the shareholder level. Listed and non-listed real estate funds with FBI status currently benefit from a reduced 0% CIT rate on their real estate income provided they distribute their entire profit to their shareholders. Some Dutch non-listed real estate investments have elected for this special tax regime; however it is now planned to be restricted in 2020. The INREV tax committee is exploring the impact that the change could have. 

Tax-related impacts of a hard Brexit

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. 

View snapshot on tax-related impacts of Brexit

Monthly Briefing Recording September 2017: EU Benchmarks Regulation

In this month’s briefing (previously known as forum call) Stephen Ryan, Research Manager at INREV, presented on the EU Benchmarks Regulation and its impact on the INREV Indices.

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Monthly 'Forum Call' now called 'Briefings'

The last Thursday of every month, INREV holds a call where members can dial in and receive a briefing on a specific tax or regulations issue.

Experts from the field present on the latest tax and regulatory issues and respond to questions from participants. Each briefing includes a presentation (available for download) and recordings are available for members to get caught up if they missed the call.

Catch up on German Investment Tax Law

If you missed the forum call on German Investment Tax Law the recording is now available. 

Nathalie Grenewitz, an attorney at bepartners in Düsseldorf, presented on upcoming German investment tax law reforms and their implications for investment funds and investors. 

Listen to Forum call recording

Forum Call Recording August 2017: German Investment Tax Law

Nathalie Grenewitz, an attorney at bepartners in Düsseldorf, presented on upcoming German investment tax law reforms and their implications for investment funds and investors.

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Forum Call Recording July 2017: FCA inducement rules

On Thursday 27 July, Cara Phillips of Addleshaw Goddard presented on the FCA rules on inducements. 

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OECD makes positive changes to real estate example in Model Tax Convention

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.