ECJ Rules Pension Management Not VAT Exempt In UK Case

Law360, London (October 8, 2020, 1:20 PM BST) -- The trustee of a British snack giant's pension fund cannot reclaim value-added tax paid to investment managers after the European Union's top court ruled Thursday that an exemption for insurance does not apply to such arrangements.

The European Court of Justice said that investment fund management services supplied to occupational pension schemes cannot be classified as insurance transactions and so do not qualify for exemption from VAT.

The European Court of Justice ruled that a British pension fund can't recover VAT paid for investment management services under an exemption for insurance transactions. (AP Photo/Geert Vanden Wijngaert) The ruling was made in...

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