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Real estate funds will no longer benefit from any exemption from IMT in the acquisitions of properties incorporating them. The measure, proposed by the PCP and the Left Bloc as part of the proposed changes to the state budget, was made feasible during this afternoon's vote in the specialty.
Although, with the state budget for 2016, the exemption from real estate transfer tax (IMT) for real estate investment trusts provided in the law on tax benefits (EBF) has been removed, Decree -Lei N ° 1/87 of 3 January "which creates tax incentives for the constitution of real estate investment trusts".
In practice, this means that despite the repeal of the EBF rule providing for an exemption from IMT for funds, this exemption was still in effect. In essence, the courts, in particular the arbitral tribunals, considered that the exemption from IMT had been revoked only in the event of a possible future transfer of the property of the funds, and the fact that it was not. exemption from IMT in same funds.
The proposals of the PCP and the bloc are aimed specifically at repealing Legislative Decree No. 1/87 of 3 January and Decree-Laws 423/83 and 20/86, in which there were also separate rules on the same subject. According to the Communists, thanks to their own court decisions, real estate investment funds were able to recover "three million euros" and "to our knowledge about 20 million are waiting for a decision" because "the decisions arbitral tribunals have always favored real estate funds. "
The proposal was approved with the favorable votes of the PS, PCP and bloc. The PSD abstained and the CDS-PP voted against it.
(new updates after the vote on the proposals)
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