REIT

With effects for tax periods beginning on January 1, 2021, the second Final Provision of Law 11/2021, of July 9, on measures to prevent and combat tax fraud, modifies the special tax regime applicable to Listed Real Estate Investment Companies (SOCIMI), introducing in section 4 of article 9 of Law 11/2009, of October 26, a special tax of 15 percent on the amount of profits obtained in the year that is not subject to distribution , in the part that comes from income that has not been taxed at the general rate of taxation of Corporate Tax or These are income covered by the 3-year reinvestment period regulated in letter b) of article 6.1 of Law 11/2009.

This special tax will be considered share of Corporate Tax and will accrue on the day of the agreement to apply the results of the year by the general meeting of shareholders, or equivalent body. Said special tax must be subject to self-assessment and payment in form 237 approved by Order HFP /1430/2021, of December 20, in the term of two months from the accrual date .

Finally, due to the introduction of this special tax, section 1 of article 11 of Law 11/2009, of October 26, which regulates the information obligations in the annual accounts report, is modified to add the obligation to distinguish in said information, the part of the income subject to the special tax rate of 15 percent.