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€500m VAT windfall for Dutch pension funds in new DC system

… the switch to a defined contribution (DC) system turns out to be a game-changer, the ministry of Social Affairs confirmed in an explanatory memorandum that accompanied the proposed new pension law. Pension funds will become eligible for a VAT exemption because in the new system all investment risk will be transferred from members to pension funds. This equals pension funds to mutual funds which are exempted from paying VAT.

Source: ipe.com

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