The Investment Management Association (IMA) is calling for the abolition of what it calls a 'discriminatory' tax regime for authorised funds investing in commercial property. These currently suffer a 20% corporation tax on rental income with no option to get it back as UK tax-exempt investors, while both property funds domiciled offshore and REITs are able to reclaim for exempt investors.
CDC Investissement Immobilier, the real estate asset management subsidiary of French financial institution Caisse des Dépôts, has inked a strategic partnership with Covivio in Germany.
