The CJEU’s task is to provide guidance on the interpretation of EU law, not to apply it to the facts of a case. When assessing UCITS-comparability, the risk borne by investors is the critical factor. If a fund is non-UCITS-comparable, it is sufficient to find a comparable fund recognized as a SIF under national law, and Article 135(1)(g) can have direct effect to achieve the exemption.
Sources
- Fabian Barth
- Taxlive – CJEU answers preliminary questions on VAT exemption for sectoral pension funds
- KPMG – Pension funds possibly special investment funds
- Taxence
See also
- ECJ C-639/22 & others – Judgment – Interpretation of VAT exemption for pension funds
- Roadtrip through ECJ Cases – Focus on Exemption – Management of special investment funds (Art. 135(1)(g))
- Join the Linkedin Group on ECJ VAT Cases, click HERE
- VATupdate.com – Your FREE source of information on ECJ VAT Cases
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