In its meeting of November 13, 2002 the Finance Committee of the French Senate has studies a proposal to review the fiscal regime in order to stimulate investments in listed property funds as such improving their transparancy.
This would enable to treat French listed property funds equal to other European funds and liven up an economic sector which is so required in each country´s national economy.
Under the new proposal companies would be taxed at a lower rate on the value increase of their real estate. This would cost the French government some EUR 300 mln during the fiscal year 2003.
(source: AOF)
