foreign investment in real property tax act
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To: REAL ESTATE EDITORS
Contact: Scott Sherwood, sherwood@rer.org, or Xenia (Ksen'ya) Jowyk xjowyk@rer.org, both of the Real Estate Roundtable, +1-202- 639-8400
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Foreign Investment in Real Property Tax Act of 1980
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WASHINGTON, June 23, 2011 /PRNewswire-USNewswire/ -- Reforming the Foreign Investment in Real Property Tax Act (FIRPTA) will spur billions of foreign investment in U.S. real estate debt and equity markets, help stabilize troubled domestic lending markets, create jobs and lead to economic growth, according to Real Estate Roundtable President and CEO Jeffrey DeBoer, who testified today on the specifics of FIRPTA reform before the House Ways and Means Subcommittee on Select Revenue Measures. Citing the urgent need for capital infusion to rebalance trillions in maturing commercial real estate debt nationwide, DeBoer called for the repeal of FIRPTA as part of comprehensive tax reform efforts in Washington and detailed policy changes to FIRPTA that could be accomplished in the short term.
FI...
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For a variety of reasons, including the current weak dollar, US real property looks very attractive to foreign investors. Non-US citizens or residents may acquire real property in the US with relative ease, with the caveat that financial institutions are often reluctant to provide mortgage financing for real property to foreign investors. There is a potential risk of tax not being collected when the foreign investor sells or disposes of US real property and returns home. To avoid this, Congress enacted the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). The purpose of FIRPTA is to impose an income tax on the gains made by foreign persons upon disposition of real property situated in the US. This article discusses basics that need to be considered when advising foreign clie...
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... economic recovery continue to limit investment in the commercial real estate sector. The lengthy ... It is possible to acquire US real property in an individual capacity, but the resulting perso... investment to minimise the impact of the Foreign Investment in Real Property Tax Act of 1980 (FIRPT...
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...Keywords: HR 5091, Real Estate Jobs and Investment Act, FIRPTA, foreign in... part of the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), and would modify certain...
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.... Temporary Extension of Investment Incentives . Bonus Depreciation - Taxpayers that pplaced qualified property in service during 2008, 2009, or 2010 were permitt... investment entity" for purposes of the Foreign Investment in Real Property Tax Act; . The provisi...
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...2989) entitled the "Real Estate Jobs and Investment Act of 2011."1 The billl would amend the Foreign Investment in Real Property Tax Act of 1980 ("FIRP...
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... assessed value as a result of capital investment. . This program is set to expire in February 2011 ... favor of the proposed amendments to the Foreign Investment in Real Property Tax Act (FIRPTA). Rep....
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... estate equity assets by Pensions and Investments magazine. As of the end of the third quarter of 20... well as the management intensity of this property type has made it difficult for most institutional ...investors who are subject to the Foreign Investment in Real Property Tax Act (FIRPTA).". "I...