There are huge challenges for the real estate sector in Europe in the current environment, with tenants looking to re-negotiate leases or unable to pay their rents, property valuations looking very uncertain, affecting loan-to-value covenants on existing real estate loans and funding for new transactions, and construction work coming to a halt in some cases. In light of these factors, we have set out here some of the tax issues around Europe for the real estate sector that we have been addressing recently.