Six joined cases from the Netherlands involve pension funds and a domestic supplier of pension management services. The dispute is about the VAT exemption for the management of special investment funds. The taxpayers argue that the management services should be exempt from VAT, but the Tax Authority disagrees. The funds are occupational and compulsory, with contributions from employers and employees. The level of pensions depends on salary, length of service, and investment returns. The first question is about the characteristics of a pension fund to be considered a ‘special investment fund’. The purpose of the exemption is to facilitate investment in securities and ensure VAT neutrality.
Source KPMG
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