The SIIC tax regime has been adjusted in the 2013 Amending Finance Act. The distribution obligation for companies that have elected for the SIIC regime is increased as from financial years ending as of December 31, 2013. Hence, the obligation to distribute profits from rental income is now 95% (previously 85%) and the obligation to distribute capital gains derived from the disposal of eligible assets is now 60% (previously 50%). The obligation to distribute dividends received is not modified (100%). The deadlines by which these distribution obligations must be satisfied is not modified.
In counterpart, the exemption from the 3% contribution on dividend distributions, from which SIICs benefited temporarily for the amounts distributed to respect their obligations, is now permanent for amounts paid as from January 1, 2014.
OPCIs’ (real estate investment funds) distribution obligations are not modified.