The latest VAT developments that matter, by Jo Crookshank and Gary Barnett (Simmons & Simmons).
Software and administrative services provided to SIFs: VAT exemption
In K v Finanzamt Osterreich (Case C-58/20) and DBKAG v Finanzamt Osterreich (Case C-59/20) the CJEU has held that the provision of software and administrative services such as tax calculations to managers of special investment funds (SIFs) is capable of falling within the exemption for the management of SIFs.
In particular the CJEU emphasised that it is not necessary for the whole of a service to be outsourced in order for it to fall within the exemption. Provided that the service is specific to and essential for the management of SIFs it may qualify for exemption even if it only involves a partial outsourcing of a function.
In the first of the joined cases a number of investment management companies...
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The latest VAT developments that matter, by Jo Crookshank and Gary Barnett (Simmons & Simmons).
Software and administrative services provided to SIFs: VAT exemption
In K v Finanzamt Osterreich (Case C-58/20) and DBKAG v Finanzamt Osterreich (Case C-59/20) the CJEU has held that the provision of software and administrative services such as tax calculations to managers of special investment funds (SIFs) is capable of falling within the exemption for the management of SIFs.
In particular the CJEU emphasised that it is not necessary for the whole of a service to be outsourced in order for it to fall within the exemption. Provided that the service is specific to and essential for the management of SIFs it may qualify for exemption even if it only involves a partial outsourcing of a function.
In the first of the joined cases a number of investment management companies...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
