- The Danish Tax Council ruled that a registered AIF manager could not provide management services VAT-exempt to funds registered as alternative investment funds (AIFs).
- The key reason was that AIFs managed by a manager registered under section 9 of the FAIF Act are not subject to special state supervision.
- Therefore, the funds could not be treated as “investment associations” eligible for VAT exemption under Danish VAT Act section 13(1)(11)(f).
- Because the main question was answered “No,” the follow-up question about an establishment fee being covered by the same exemption was not considered.
- The decision concerns a company registered with the Danish Financial Supervisory Authority as an AIF manager and its services to AIFs.
Source: info.skat.dk
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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