Italian Real Estate Investment Funds: Recent Tax Framework Developments

This article provides an overview of the tax framework for Italian real estate investment funds (REIFs) and their investors in light of recently enacted provisions that may be of relevance from both a domestic and an international perspective. The reform process that started in May 2010 has significantly amended the principles that underlie the REIFS tax regime; however, the resulting tax framework still makes REIFs an appealing investment scheme for Italian and non-Italian resident investors.