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Services are VAT exempt

08 April 2014
Issue: 4447 / Categories: Tax cases , Investments , Pensions , VAT

ATP Pension Service A/S v Skatteministeriet (Case C-464/12)

Denmark’s ministry of fiscal affairs refused to exempt from VAT the taxpayer company’s supply of services to occupational pension funds.

The taxpayer paid VAT until June 2002 on the consideration received from the pension funds for the services

The situation changed after the decision in Sparekassernes Datacenter v Skatteministeriet (Case C-2/95) [1997] STC 932. The taxpayer decided the services relating to payments into and disbursements from pension funds were exempt from VAT under article 13B(d)(3) of the Sixth Directive.

The Danish authorities agreed disbursements were exempt but not payments into schemes other than the taking and cashing of cheques.

The Court of Justice of the European Union (CJEU) noted that the pension customers bore the investment risk.

The CJEU concluded that the pension funds were comparable with “special investment funds” in article 13B(d)(6) and the management of the latter was VAT exempt.

Robert Facer associate with accountancy Moore...

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