Proposed FIRPTA Reforms Would Reduce Tax Barriers

Law360, New York (October 7, 2013, 5:47 PM EDT) -- 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...
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