2/8/2012

Talks are under way to amend legislation in the Philippines that would govern REIT structures. The law passed last year but has several provisions unwelcome to the industry, including a provision requiring that the initial transfer of real property into a REIT vehicle be subject to a 12% value-added tax. The private sector is negotiating with the Department of Finance and the Bureau of Internal Revenue to change the stringent tax rules or offer more incentives.

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