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Advice on tax ramification on a real estate trust beneficiary certificate transaction

Currently, the basis to impose a tax upon a digital beneficiary certificate transaction for a real estate trust is unclear, and precedents are rare.

As such, D’LIGHT reviewed a contemplated beneficiary certificate transaction from the taxing authority’s perspective and determined the current basis for taxation, as well as the likely changes to the tax scheme to be expected from the adoption of the Financial Investment Income Tax in 2023.

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