Manulife US REIT Confirms Exemption from US Withholding Tax

MT Newswires06-25

Manulife US Real Estate Management, manager of Manulife US REIT (SGX:BTOU), confirmed that the trust is exempt from the new US withholding tax requirements under Section 1446(f) of the US Internal Revenue Code (IRC), a Tuesday filing with the Singapore Stock Exchange said.

This exemption applies because Manulife US REIT is structured as a publicly traded partnership and does not conduct business in the US.

In a June 30 notice, Manulife US REIT stated that no withholding tax applies to transfers made by unitholders. The notice clarifies that distributions for the fiscal year ending June 30, 2024, do not include US effectively connected income and are not subject to withholding under Section 1446 of the US IRC.

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