Insights

Fresh thinking and actionable insights that address critical issues your organization faces.

Learn more

Resources

Services

KPMG's multi-disciplinary approach and deep, practical industry knowledge help clients meet challenges and respond to opportunities.

Services to meet your business goals

Technology Alliances

KPMG has market-leading alliances with many of the world's leading software and services vendors.

View all Alliances

Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more
Relevant Results
Sorry, there are no results matching your search.
Autocomplete suggestions are available. Use up and down arrows to review and enter to select.
See more results

Netherlands: Pension funds not treated as special investment funds eligible for VAT exemption

A CJEU Advocate General opinion concerning pension funds not treated as special investment funds eligible for VAT exemption

March 18, 2024

The Advocate General of the Court of Justice of the European Union (CJEU) on 14 March 2024 issued an opinion that certain Dutch pension funds did not qualify as “special investment funds” such that management services provided to such funds are exempt from value added tax (VAT).

The cases are the joined cases C-639/22 to C-644/22.

Summary

A fund that displays identical characteristics as an “undertaking for collective investment in transferable securities” (UCITS) or is at least sufficiently comparable to be in competition with a UCITS, is also regarded as a special investment fund. However, the Advocate General specifically found that the Dutch pension funds were not sufficiently comparable to UCITSs to be regarded as special investment funds.

In addition, although under guidance of the Dutch Ministry of Finance, pension funds that execute individual defined contributions plans are regarded as special investment funds, the Advocate General found that the Dutch pension funds were not comparable with such pension funds.

Read a March 2024 report [PDF 59 KB] prepared by the KPMG member firm in the Netherlands

    The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.

    KPMG. Make the Difference.


    Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

    The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

    The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

    © 2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

    For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

    Thank you!

    Thank you for contacting KPMG. We will respond to you as soon as possible.

    Contact KPMG

    Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

    By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

    An error occurred. Please contact customer support.

    Job seekers

    Visit our careers section or search our jobs database.

    Search now!

    Submit RFP

    Use the RFP submission form to detail the services KPMG can help assist you with.

    Submit

    Office locations

    View locations

    International hotline

    You can confidentially report concerns to the KPMG International hotline

    Learn more

    Press contacts

    Do you need to speak with our Press Office? Here's how to get in touch.

    Contact

    Headline