The Gelderland District Court ruled that X is not entitled to deduct VAT on asset management fees, as holding the securities portfolio is considered a non-economic activity and X failed to demonstrate these costs were incorporated into the price of advisory services. However, VAT on general expenses is deductible at a pre-pro-rata rate of 50%.
Source: taxlive.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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