SOCIMIs taxes


Spanish SOCIMIs Could Suffer A Major Setback With A Tax Burden Of 15%

Even though SOCIMIS have played a leading role in the Spanish real estate market since 2013 , as a result of Covid-19, their market value has dropped to €21.268 Bn, a decline of more than 17% against the end of 2019. In addition, these vehicles have benefited from a tax regime adapted to that of traditional REITs. Now, however, the government could impose a tax burden of 15% on them, which would damage cash flow and increase the risk premium associated with investing in real estate assets in Spain, say Banco Sabadell analysts.