More than 35 socimis were present at the event which was opened by Asocimi’s president, Javier Basagoiti, who voiced his intention of having this guide provide the answers to «the everyday problems REITs have to face».
With this goal in mind, Eduard Mercader, in charge of Asocimi’s legal and tax commission, remarked that the main disadvantage of the current socimi Law is that some aspects are not defined with precision, «which made it necessary for them to be clarified by inquiring the DGT». He added that the guide organizes the answers provided by the DGT so that they can be used when consulting any of the socimi Law’s articles. «This guide can serve as a code of good practices for the socimi Law», he concluded.
Pérez-Llorca’s tax partner, Clara Jiménez, explained that «the existence of such casuistic and concrete norms, the mostly numeric requirements established in the socimi Law and the lack of a Regulation, dictate the need to be particularly scrupulous when carrying out the relevant assets and rent tests».
DA Lawyers’ tax department partner, Paula Caro analysed, amongst other subjects, whether it is mandatory to share benefits when the ordinary profit is negative, but the society had positive yields from the sale of properties.