Study On Some Issues Of International Tax Law Concerning Real Estate Investment Trusts

Real estate investment trusts(REITs) originated in the United States.It's a outcome which in order to cater to the increasing development of the economy.Today, as a sophisticated investment vehicle,it has been developed rapidly in the world. Actually,REIT is a kind of financial tool which aggregates Investors' real estate ownership and funds in order to achieve some tax incentives which investors access to direct investment in real estate and own to more substantial and abundant strength.Meanwhile,investors also can benefit from professional management which invested in various real estate investment portfolio management.As the increasing development of REITs,some countries and international organizations more emphasized on REITs' Cross-border tax issues.OECD has released a report named "Tax Treaty Issues Related To REITS" and made some recommendations.This paper intend to analyzes some international tax problems of REITs and present a guide for China.This paper includes three chapters besides the preface and conclusion.Chapter 1 introduces the general rules on REITs.Including the definition of REITs,the analysis on the features and species of REITs and REITs' international tax development.Chapter 2 analyzes REITs' tax system.In respect that United States is the country which has the earliest and most prosperous system on REITs,on the first part of this chapter,it concentrate on the tax regulations of United States,meanwhile,compared it to France's and Hong Kong's to have some advises to China.On the second part of this chapter,under the framework of OECD,analyzes the development of cross-border REITs and gets some suggestions to the development of China's REITs.Chapter 3 discusses the establishment of China's REITs tax system.First of all, introduces the background of China's REITs.Second,points out the obstacles, restraining factors and some tricky issues in the development of REITs.Third,makes some recommendations to the establishment of REITs' tax system in China.Finally, discusses some advises to REITs when applying the bilateral tax treaty.