Golflinks Business Park, a property under Embassy Office Parks REIT. (Photo: Embassy Office Parks REIT)

Property industry stalwarts have welcomed a move by the Indian government to re-exempt India-listed REITs and infrastructure investment trusts (InvITs) from dividend tax.

The exemption was effectively re-enacted with the passing of India’s Finance Act 2020 that was approved by the country’s parliament on 23 March.

India had initially exempted REITs and InvITs from dividend tax.

However, certain lawmakers briefly sought to re-introduce the levy, which threatened to stifle the country’s fledgling REITs and InvITs sector.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.