The updated Decree on special government supervision of the State Secretary of Finance (hereinafter: State Secretary) was published on 2 November 2021. In this decree, the State Secretary gives substance to the qualification ‘special government supervision’. This is one of the conditions set by the European Court of Justice (hereinafter: ECJ) for the application of the VAT exemption for the management of mutual investment funds.
An update of the original decision of 22 March 2019 was necessary due to case law of the Supreme Court of 4 December 2020, which gave a broader interpretation of special government supervision than was used in the previous decision .
Source Meijburg
