Lee Squires and Fiona Bantock review recent key developments, including the decisions in ATP PensionService, Secret Hotels2 and Esporta, as well as principal VAT measures from the Budget
Key developments in the VAT arena since last month’s briefing are as follows:
In ATP PensionService A/S (C-464/12) the CJEU has followed the advocate general’s opinion given last year (see VAT briefing for January 2014) and held that defined contribution pension schemes may qualify for the VAT exemption for the management of ‘special investment funds’ under art 13(B)(d)(6) of the Sixth VAT Directive (now art 135(1)(g) of the Principal VAT Directive).
The CJEU held that a pension fund could be a ‘special investment fund’ provided that:
