- AG Kokott considers pension funds not comparable to investment funds
- VAT exemption on management services for Dutch pension funds depends on qualification as a common investment fund
- Dutch pension funds do not qualify as UCITS but can be considered common investment funds if they exhibit similar characteristics
- Investment risk must be borne by participants for exemption from VAT
- ECJ asked to clarify if investment risk can be borne collectively and if factors affecting pension benefits are relevant
Source: view.deloitte.nl
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
