- The EU VAT Directive requires that management services for special investment funds be exempt from VAT
- German VAT Act implements this exemption, defining special investment funds as including UCITS and AIFs
- AIFs must be comparable to UCITS to qualify for VAT exemption
- ECJ ruled that pension funds must bear investment risk to be considered comparable to UCITS
- ECJ decision in a case involving Dutch pension funds in company pension schemes
Source: kmlz.de
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.
