Read our previous post about this case HERE
The question referred to the ECJ is if the pension fund management services that were provided by insurers and / or non-insurers qualify as VAT exempt ‘insurance transactions’.
Advocate General Pikamäe advises the court as follows:
Article 13B(a) of Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes — Common system of value added tax: uniform basis of assessment, and Article 135(1)(a) of Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax, must be interpreted as meaning that investment management services, such as those at issue in the main proceedings, supplied by a third party, do not come within the exemption provided for in those provisions.
Nreseletters from consultants: