Italian listed retail property company Immobiliare Grande Distribuzione (IGD) said it has decided to elect for the tax-efficient SIIQ status with retroactive effect to January 1, 2008. Opting for SIIQ status 'will result in the exemption of income from rental activities for the purposes of IRES (corporate income tax) and IRAP (regional business tax),' IGD said in a statement. The Italian company added that the charge for this special regime is estimated at approximately EUR 30 mln.
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