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Property industry slams EU financial transactions tax

Posted on 24 November 2011

Property lobbyists are set to do battle with the European Union amid growing fears it may try to impose a tax which would undermine the benefits of Real Estate Investment Trusts (REITs).
The British Property Federation (BPF), EPRA, INREV and AREF have united in a bid to stop the proposed financial transactions tax (FTT) from being applied to REITs and real estate funds. Industry concern is centred on the wide-ranging definition of financial institutions to which the tax would apply. At present, this includes alternative­ investment funds and their fund managers………………………………………..Full Article: Source


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