- Conclusion of Advocate-General Kokott in pension fund cases at the Court of Justice
- Focus on two questions from the Gelderland court regarding VAT exemption for management services to Dutch pension funds
- Comparison with ICBEs (collective investment schemes)
- AG finds Dutch pension funds not comparable to ICBEs
- Elements for comparison include attracting capital from the public, redemption obligation, and investment risk for participants
- AG concludes Dutch pension funds do not meet first two elements, as they are limited to specific groups and lack redemption obligation
- AG questions if these elements are relevant and how they align with previous CJEU rulings
- Key issue is whether participants bear investment risk
- AG raises concerns about guaranteed pension commitments based on service years and income
Source: meijburg.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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