MULTIPLEX EUROPEAN PROPERTY FUND 
By 1 August 2012
Multiplex European Property Fund (ASX: MUE) German Tax Audit Update
Brookfield Capital Management Limited (BCML), as Responsible
Entity for Multiplex European Property Fund (Fund) refers to
the previous announcement dated 12 June 2012 in relation to
the tax audit by the German tax authorities of partnerships
in which the Fund has an interest of 94.9%.
The assessment for the German Trade Tax liability for the
2004-06 income years has been received in the amount of
approximately € 2 million including interest and penalties
accrued to the current date. The liability is due and payable
on 3 September 2012.
In line with independent advice received the relevant
entities have lodged an objection in relation to the
assessment and have sought a deferral of payment of the
liability pending determination of the objection. It is not
possible to determine when the decision in relation to
deferral of payment will be made by the German tax
authorities or whether such deferral may require some form of
cash security for payment. It is possible that enforcement
action in relation to payment of the assessment may be taken
after 4 October
2012 even in circumstances where the decision remains under
consideration.
Independent advice remains that, in the event that the matter
was pursued through to court appeal, the relevant entity is
more likely than not to successfully defend its position and
no Trade Tax would be payable.
As soon as there are further updates, BCML will advise
investors.
For more information please contact:
Ph: 1800 570 000
Email: clientenquiries@au.brookfield.com
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