The Polish Ministry of Finance has released draft legislation that would introduce a corporate tax exemption for qualifying Real Estate Investment Trusts (REITs). In order to qualify, a REIT would need to meet the following conditions:
- Share capital must exceed PLN 60 million;
- Real estate assets must constitute at least 70% of total assets, with a minimum of three nonresidential properties;
- At least 70% of total income must be derived from the sale or lease of real estate; and
- More than 90% …