Philippines eases REIT rules (Philippine Daily Inquirer)
Eleven years since the enactment of the Real Estate Investment Trust (REIT) law, the Philippines has finally come up with an implementing framework that is acceptable to the capital market.
The Department of Finance (DOF), Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR) and Philippine Stock Exchange (PSE) launched on Monday coordinated rules on securities and revenue regulation as well as public listing of REITs. They removed stringent tax and minimum public ownership (MPO) requirements that prevented the rise of REITs as a powerful instrument to tap retail investors and recycle capital.
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