Proposed FIRPTA Reforms Would Reduce Tax Barriers

Law360, New York (October 07, 2013, 5:47 PM ET) -- Real estate investment trusts have long been a tax-efficient vehicle for foreign persons seeking to invest in U.S. real estate. Now, two legislative proposals titled the Real Estate Investment and Jobs Act of 2013[1] have been introduced in both the House and the Senate.

These reforms are part of President Barack Obama’s program to encourage private infrastructure investment,[2] and they are intended to attract foreign capital to the U.S. real estate market by reducing tax barriers to investment. Specifically, these bills propose to change withholding tax...
To view the full article, register now.