BPF Response: OECD minimum tax – treatment of REITs

We and other property bodies from around the world wrote to the Organisation for Economic Co-Operation and Development (OECD) welcoming their decision to exclude REITs from new rules applying minimum rates of tax to large multinational companies on the basis that REITs are specifically designed to allow individuals to invest in property without being taxed twice. The letter also highlights the need for further guidance to make sure the OECD’s rules don’t clash with those of individual countries.