Citaat | Parket bij de Hoge Raad 28 november 2012

Alinea 141 Parket bij de Hoge Raad 28 november 2012

Een alinea uit Parket bij de Hoge Raad 28 november 2012, ECLI:NL:PHR:2012:BY6887.

(32) As regards the reserves made up of 10 % of annual profits, the Commission notes that the notified measure provides no time limitation as to the possibility of REITs to retain such profits. As a result, there will be taxation of such retained earnings only in the hands of the shareholders after such distribution has taken place. Such a deferral of taxation is indeed justified by the need of REITs to have recourse to adequate self-financing. Were a REIT to be obliged to distribute its entire profits to its shareholders, this would undermine its cash-flow requirements as real estate activities traditionally are heavily debt financed and therefore REITs may run a risk of illiquidity in situations of limited access to debt financing.

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