Home » News » CBRE told ads for off-plan property investment units with ‘estimated ROI’ must be proven previous nextRegulation & LawCBRE told ads for off-plan property investment units with ‘estimated ROI’ must be provenComplaint against property consultancy is upheld by advertising watchdog over estimated ROI of up to 4.9% quoted in online brochure.Nigel Lewis10th October 201802,790 Views Leading property consultancy CBRE has been told not to advertise off-plan investment properties using estimated rental values and gross returns unless they can substantiate their claims, and that the figures used to do so must be clear in the ads.This judgement throws a considerable spanner into the property investment sector which until now has been able to make largely unsubstantiated claims about return on investment.The Advertising Standards Authority (ASA) received a complaint about an advert CBRE had published online for a newbuild tower it was marketing in The City called One Crown Place, EC2., which is being built by Malaysian firm AlloyMtd.In a section marked ‘key facts and services’ a link loaded an online brochure that made claims for estimated gross yields at the development of up to 4.9% depending on the property size.Property investmentThe complainant said they did not believe these yield figures were representative of the market in the area, and said the way they had been calculated had not been made clear.CBRE then made detailed representations to the ASA saying it was confident of the figures and that they had been based on 11 recent tenancies at a nearby and comparable development called The Heron using data from Lonres and Rightmove.“The CAP Code requires that the basis used to calculate any rate of interest, forecast or projection must be apparent immediately,” the ASA says.But the ASA has upheld the complaint, saying CBRE had not explore the criteria on which it had picked properties in The Heron to compare its developments with, that the prices within the Rightmove data were asking not sale prices. It also said the CBRE had not provided evidence of how it calculated the estimated rental value or gross returns.“We told CBRE to ensure that similar ads in the future did not quote estimated rental values and average gross yields from letting properties, unless they held adequate evidence to substantiate the claims.“We also told CBRE to ensure that the basis used to calculate the estimated rental values and average gross yields were made clear in the ads.”Read more about recent ASA judgements.One cRown place advertising standards authority ASA CBRE October 10, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021
twenty-first Century economic report
Beijing reported Xiao Zhou
core tip: Li Linjun, former director of the State Administration of Taxation, said the electricity supplier to the individual tax is a trend, but to seize the opportunity and strategy. He said that the management of big data, for the future of tax collection and management has brought opportunities.
in October 25th, 2013 Chinese law forum, vice president, China Association certified tax agents, the former State Administration of Taxation Administration Secretary Li Linjun said that the tax to the individual electricity supplier is the trend, but to grasp the opportunity and strategy. He said that the management of big data, for the future of tax collection and management has brought opportunities.
State Administration of Taxation official also told reporters that day, there is a misunderstanding of the electricity supplier tax. In fact, whether it is a physical store, or shop, the status of the tax law is the same: as long as certain conditions are required to pay taxes. For electricity supplier tax, there is no obstacle in the policy; however, the reality of tax collection is impossible for all online shops are taxed.
according to the Ministry of commerce data show that in 2012 China’s online retail sales of more than 1 trillion and 300 billion, an increase of 67.5%, accounting for the total retail sales of social consumer goods in the year of 6.3%.
The rapid development of
e-commerce brings great challenge to tax collection and management. Li Linjun said, like Tmall, many of its online brands, there are physical stores, have carried out tax registration, online and offline sales are basically tax. But there are loopholes in this collection, some businesses are not included in the online sales.
and similar to Taobao’s individual shop C2C, then more difficult. Taobao last year, sales of 800 billion yuan, accounting for the bulk of the online retail, but there are no electricity tax registration of individual electricity supplier in about 7000000.
Li Linjun said that more and more individual electricity supplier for large transactions, the scale of online transactions will be growing in the future – from the trend point of view, it is necessary to tax.
however, China editor, tax report to the original state administration of taxation taxation institute director Liu Zuo believes that the relatively large tax on many individual electricity costs, serious syndrome, may not receive on how much tax, and now there are many tax loopholes for large enterprises, instead of staring at the individual as the electricity supplier, staring at the big enterprise.
In addition, a lot of
shop did not meet the tax standards, as many individual stores do not pay taxes, in a way, is a collection of loopholes, but this practice is very common in the world.
individual electricity supplier whether strict collection, or when the levy, there is no timetable.
Li Linjun further pointed out that the individual electricity supplier to solve the employment problem of hundreds of thousands of families, if forced to levy immediately, it will affect employment. This problem requires the State Council to decide, the timing and strategy should be a good grasp.
Liu Zuoze believes that a large number of individual electricity supplier is small, to solve the employment, reduce the burden on the government, is a good thing. With these nets >