Date

Friday, 9 September 2016

Time

Venue

KPMG office

8th Floor, Prince’s Building

10 Chater Road, Central

Hong Kong

Language

English

Dress code

Business attire

Fee

Complimentary and by invitation only

Event details

It is now almost a year since the Organisation for Economic Co-operation and Development (OECD) issued their proposals to tackle perceived tax avoidance by multinational corporations. The proposals seek to address base erosion and profit shifting (BEPS), and contain 15 action points which member nations of the OECD and Group of Twenty have agreed to address.

Although real estate funds were not the main targets of the BEPS initiative, they stand to suffer significantly from collateral damage. In our initial paper last year, we highlighted four key action points which we considered might have a negative impact on the returns that real estate funds were able to obtain, including:

• Limiting treaty benefits
• Restricting interest deductions
• Restricting the use of hybrid instruments
• Expanding the permanent establishment definition.

In the months since our initial report, national governments have been working to implement the proposals, and we are now starting to get a picture of how things are progressing.

This presentation will discuss some of the key changes affecting real estate funds, the likely impacts on returns, and what funds should do to mitigate the effects.

For queries, please email Angie Leung or call her at +852 3927 5631.