- The guidance discusses VAT exemption for managing special investment funds
- Two main criteria for exemption are that the services must be management and must be for specified funds1. Definition of Management
- Management includes investment management, administration, and marketing as per UCITS Directive
- Outsourced services qualify as management if they cover investment management, administrative and accounting services
- Services must form a distinct whole, be specific to, and essential for managing special investment funds
- Services must be characteristic of an investment management company’s activities
- Using electronic means for services does not disqualify them from exemption
- Support or technical services like IT and general legal services do not qualify for exemption2. Specified Funds
- From 1 March 2023, specified funds include various collective investment undertakings and investment partnerships as defined in the Taxes Consolidation Act 1997
- Also includes undertakings administered by authorized holders under the European Communities (Life Assurance) Regulations 1984
- Includes unit trust schemes for superannuation fund schemes or charities
Source: revenue.ie
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.
