Baker & McKenzie Global Real Estate Taxation Guide Highlights Policies to Boost Real Estate Investments Around the World
Firm News
April 15, 2009
Chicago, April 15, 2009 – In an ever-changing and complex global real estate tax environment, Baker & McKenzie has published the Global Real Estate Taxation Guide 2009. More than 30 countries in Europe, the Americas, Australia and Asia are featured in the Guide, which mostly summarizes the tax treatment of a real estate investment from the acquisition phase to the time of disposal.
“The Global Real Estate Taxation Guide 2009 is a valuable reference tool for clients and industry professionals,” said Olivier Mesmin, Baker & McKenzie tax Partner in Paris. “The Guide offers an inside look into real estate tax in various jurisdictions based on the knowledge and experience of Baker & McKenzie’s lawyers around the world.”
In-depth topics include the acquisition, holding and selling of real estate investments; real estate investment trusts (REITs) and similar tax regimes. Also included in the Guide are overviews of main tax rates that are pertinent to the real estate industry. For example, in Australia, the Guide covers the new and attractive tax concessions for overseas investors, and in Taiwan, the extension of a tax loss carry forward and the decrease of the corporate income tax rate.
Commenting on the Guide, Roy Melick, a Partner in Sydney and Chairman of Baker & McKenzie's Global Real Estate Group, said: “Taxation is a major factor that is integral to and impacts the profitability of every real estate investment and of course the rules vary from country to country. The Guide gives readers the ability to readily compare the tax treatment of one jurisdiction to another in a plain English and easy to read format.”