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Company pension fund No VAT exempt UCITS

According to the court, permanent case law of the EU Court of Justice followed that UCITS in any case were common investment funds. Investment funds that were not an UCITS but showed the same characteristics as an UCITS and thus conducted the same actions, also had to be regarded as a common investment fund. This also applied to investment funds that at least be similar to these institutions that they competed with it. (Company) pension funds could also be regarded as a common investment fund if they were funded by the pension receivers, the savings was invested according to the principle of risk spread and the investment risk was borne by the members of the pension fund. According to the court, it could not be said that the risk of participants directly translated into a reduction in the value of their shared persons.

Source: futd.nl

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