- CJEU AG opines Dutch pension funds are not eligible for a VAT exemption
- Pension funds and asset managers believe they are similar to collective investment funds
- AG opinion states pension funds are not comparable to UCITS and do not qualify for VAT exemption
- Dutch pension funds often operate average earnings schemes, which do not qualify as collective investment funds
- Dutch Supreme Court ruled in 2016 that pension funds with benefit agreements do not qualify for VAT exemption
- Participants in benefit agreements do face investment risk, leading to lower expected returns
- Questions raised about interpretation of investment risk condition for VAT exemption
- District Court referred case to CJEU for clarification on investment risk and tax neutrality principle.
Source: bdo.global
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.
Latest Posts in "European Union"
- Advocate-General: Transfer Pricing Adjustments for Intra-Group Goods Likely Subject to VAT Compliance
- Transfer Pricing Adjustments Affect VAT Only if They Alter Agreed Transaction Price Between Parties
- A-G CJEU: Transfer Pricing Adjustments Are VAT Price Corrections for Previous Sales, Not Services
- AG Kokott: Transfer Pricing Adjustments Affect VAT Only if They Change Consideration, Not Just Profit Allocation
- EU Introduces Flat EUR 3 Customs Duty Per Item for Low-Value Imports from July 2026
