AIFM — status quo and options for action
Each private equity fund should now review whether and how it will be regulated in the future. For example, as of July 22, 2013, fund raising may require a permit application. Therefore, to avoid possible time delays, you should start planning for the future early.
The AIFM Tax Adjustment Act has failed for the time being, as the Bundesrat did not approve it. As a result, the Investment Tax Act will be deprived of its scope of application on July 22, 2013, and it will no longer be applicable as of July 22, 2013. In all likelihood, this gap will be closed in the fall.
Domestic private equity funds in the legal form of a KG are currently not subject to the Investment Tax Act, and foreign private equity funds are generally not subject to this Act either, so that this gap in the scope of application of the Investment Tax Act should not have any effect.