Equipo

Nota jurídica

New administrative criteria regarding Spanish REITs

02/03/2015

In order to boost the Spanish renta! market Law 11/2009, of 26 October (the "SOCIMI Law"), created the Spanish Real Estate lnvestment Trusts in 2009 ("SOCIMI"). The SOCIMI Law was subsequently modified in 20121, which significantly enhanced the application of this regime.

The SOCIMI scheme includes complex corporate and tax rules. Accordingly, with the aim of analysing and clarifying the SOCIMI special regime, the Spanish General Directorate of Taxes (“GDT”) has issued severa! tax rulings in the last few years.

In this regard, on December 2014, the GDT issued a new tax ruling 2 (the “Tax Ruling”) which, in addition to reiterating the criteria included in previous tax rulings, establishes a new administrative criterion regarding the SOCIMI regime.

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