Industry stalwarts cheer India’s move to re-exempt dividend tax on REITs, InvITs

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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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