ECJ Urged To Rule Pension Management Not VAT Exempt

Law360, London (May 14, 2020, 4:36 PM BST) -- Trustees that use third-party investment management businesses to administer their pension schemes must pay value-added tax on the service, an adviser to the bloc's top court said Thursday, on a question escalated from England's Court of Appeal.

Advocate General Priit Pikamäe said the European Court of Justice should rule that investment management services supplied to occupational pension schemes do not classify as an insurance transaction. Companies are exempt from paying VAT on services that are classified as insurance under EU tax law.

The advocate's opinion is not binding on the ECJ, but the opinions often signal which way the top court...

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