THE Capital Markets Authority is hopeful its proposal to have issuers of Real Estate Investment Trusts and Asset Backed Securities exempted from taxation will be approved in the forthcoming budget.
The authority has asked the National Treasury to cushion fund managers, pension funds, insurance funds – among other trustees – from value added tax, capital gains and stamp duty when issuing REITS and ABS as it seeks to encourage their rollout.
Regulations for ABS which allows investors to borrow money using the projected revenue generation capacity of projects to be funded, were enforced in 2007 while those for REIT schemes which enable investors to pool funds for property development were approved in 2012.
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http://www.the-star.co.k...tax#sthash.263VxSIS.dpuf"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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