Based on the judgment of the European Court of Justice in case C-424/11, Wheels, the Tax Agency clarifies the practice, as it is the Tax Agency’s assessment that under certain conditions it is the pension product/scheme and not the pension institution that must be assessed under VAT law and possibly qualified as a investment Association.
In a steering signal, the Danish Tax Agency also recognizes that departments in investment institutions that have certain specified characteristics are, for VAT purposes, the entity that must be assessed and possibly qualified as an investment association.
Source: skat.dk
