On December 27 2012, a significant amendment to the tax and legal regime of the Spanish Real Estate Investment Trust (REIT), or SOCIMIs (Sociedades Anónimas Cotizadas de Inversión en el Mercado Inmobiliario), was approved by the Spanish Congress following a proposal by the Spanish government. Javier Hernández Galante and Javier Mateos, of Ashurst, explain why they are optimistic about the changes.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort