- Pension funds X and Y appealed, claiming they were exempt from VAT as they could be considered as a common investment fund
- The EU Court of Justice ruled that participants in a pension fund could only be considered to bear investment risk if the amount of pension rights and payments could vary based on investment results
- Factors such as individual vs collective risk, employer guarantees, and interruptions in pension rights accumulation were considered relevant
- The EU Court stated that to determine VAT exemption eligibility, a comparison with other non-icbe funds must be made based on the legal and financial situation of the participant
Source: futd.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.
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