Inovalis Real Estate Investment Trust Provides Update on Arcueil Withholding Tax Matter and Appeal

Inovalis Real Estate Investment Trust Provides Update on Arcueil Withholding Tax Matter and Appeal

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) announced today that the Paris Administrative Court has issued a ruling regarding withholding tax reassessments related to the Arcueil property for the 2017 to 2019 taxation years, during which the REIT held a 25% interest in the property through a joint venture. The Court has confirmed a tax liability of approximately €5.888 million ($9.294 million) , including principal, penalties, and interest. A forma