Draft Law amending the regime for B-REITs (regulated real estate companies) submitted to the Belgian Parliament
On 27 June 2017, a draft Law on Belgian REITs (the so-called Regulated Real Estate Companies or B-REITs) was submitted to the Belgian federal Parliament. The draft Law amends the existing regime for public and institutional B-REITs and introduces a new category of B-REITs with social purpose. What’s new? The majority of the new provisions
Publication of Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds
PwC is pleased to inform you that the Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds (better known as “fonds d’investissement immobilier spécialisé” or FIIS / “gespecialiseerd vastgoedbeleggingsfonds” or GVBF) has been published in the Belgian Official Gazette of today, 18 November 2016. As you know, this new investment vehicle
Amendment of AIFM Law in view of the implementation of a new real estate investment vehicle, the FIIS
On 20 July 2016, the Parliament voted on Program Act II modifying amongst others the Belgian Act of 19 April 2014 on alternative investment funds and their managers (AIFM Law). These modifications were necessary to enable the adoption of a new royal decree implementing a new regime for real estate investment funds referred to as “Fonds
Brexit: Financial Services Tax outlook
On Thursday 23 June 2016, a historic referendum on the UK’s membership of the EU was held, with the ‘Leave’ result announced the following day. The aftermath now requires careful consideration of the potential short and medium term scenarios the UK government could take in the following months and years and the potential effects each
New Belgian Real Estate Investment Fund (FIIS): draft legislation introduced in Parliament
The draft Program Act of 28 June 2016 contains several tax rules applicable to the existing Belgian Regulated Real Estate Company (RREC*) and the new Belgian Real Estate Investment Fund (FIIS**) and creates the legal basis for the Belgian government to issue decrees implementing the FIIS regime. Final legislation is expected to be published during
Anti-Tax Avoidance Directive: impacts on the real estate industry
EU countries reach political agreement on Anti-Tax Avoidance Directive: impacts on the real estate industry The EU-28 Finance Ministers reached political agreement on 21 June 2016 on the Council Directive laying down rules against tax avoidance practices that directly affect the functioning of the internal market (also known as ATAD). Ministers decided not to include
Belgium – budgetary control 2016: real estate measures
On 9 April 2016, the federal government reached an agreement on additional budgetary and recovery measures following the 2016 budgetary control exercise. It has been confirmed that measures will be taken to make the Belgian real estate market more attractive for foreign investors (as further explained in the parliamentary procedures leading to the Tax Shift Act
What does today’s Belgian budget and tax-shift agreement mean?
What does today’s Belgian budget and tax-shift agreement mean? Today, the Belgian government announced various tax measures of particular interest for the real estate and financial sectors. The new measures include a new regime for institutional real estate funds, an increase of the normal withholding tax rate and taxation of short-term capital gains on listed
