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PwC news – New administrative VAT decision: discretionary portfolio management versus advisory management

Christoph Zenner

Author: Christoph Zenner

The Belgian VAT administration recently published a new administrative decision clarifying the VAT treatment of portfolio discretionary management and advisory management based on the ECJ case Deutsche Bank. Discretionary portfolio management Discretionary portfolio management consisting of (1) a service of analysing and monitoring the assets of client investors and (2) a service of actually purchasing and […] …

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