The termination of the VAT exemption for investment funds in collateralized loan obligations (CLOs), will make CLOs liable for VAT. With VAT liability for management for all CLOs, these companies would have to pay VAT on the management costs charged to them. As a result, 81 CLOs have now transferred their portfolios in an economic sense to Irish companies. State Secretary of Finance Vijlbrief indicated that he would strive to make clear for the CLOs well before the end of the transition period on 1 July 2021.
Source: taxlive.nl
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