This new report explores the impact on real estate funds of four of the 15 OECD actions: restricting interest deductions, restricting the use of hybrid instruments, limiting treaty benefit and expanding the permanent establishment definition.
Please click here for the latest report: BEPS - Update for real estate funds.
On 5 October 2015 the Organisation for Economic Co-operation and Development (OECD) issued their highly anticipated reports on proposals to tackle what governments perceive as tax-avoidance, using international tax standards (base erosion and profit shifting or BEPS). The development of these proposals was prompted largely by prominent reports in the media of a number of well-known multinationals who were paying very little corporate income tax in countries where they were deriving significant sales revenue. As a result of this press coverage, the drive to revise international tax arrangements gained a political impetus that it had previously lacked, and the proposed revisions to the international standards have been turned around according to a remarkably tight timetable.
The first report explores the impact on real estate funds of four of the 15 OECD actions:
Please click here for the first report: BEPS - Key considerations for real estate funds.
© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.