- The BMF has issued a letter regarding the VAT exemption for the administration of Alternative Investment Funds
- The scope of the VAT exemption has been expanded to include all alternative investment funds, including OGAW and pension funds
- Management services for all AIFs are now VAT exempt, including venture capital funds
- The requirement to compare AIFs with OGAW for VAT exemption has been eliminated
- The VAT exemption is based on EU law, specifically Article 135 of the VAT Directive
- Changes to the VAT application decree have been made to reflect the expanded VAT exemption for AIF administration
Source: bundesfinanzministerium.de
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.
