The Court of Justice of the European Union has ruled that a pension fund can constitute an investment fund and therefore VAT exempt. This also includes VAT exemption for management services provided to a pension fund.
The case was brought before the court by the Danish High Court in regards to the VAT treatment of PensionDanmark and ATP PensionService A/S, which provides management services for the fund. The ruling counters the decision of the Danish Ministry of Taxation that pension funds are l…