Germany: New tax rules for funds and their investors to accommodate the Alternative Investment Fund Managers Directive (AIFMD)

Real Estate Tax Services Newsalert ()

On December 4, 2012 the Ministry of Finance issued a draft legislation for consultation that deals with the tax consequences of the AIFM Directive. The latter enters into force on July 22, 2013. Correspondingly, the new tax rules should enter into force from the same day. Whereas the tax regime for existing regulated investment funds would generally remain the same, new funds established under AIFMD may be subject to a new tax regime.