Denmark Tax Agency Clarifies VAT Exemption for Collective Investment Fund Management Services

The Danish Customs and Tax Administration Feb. 14 posted online Tax Council Binding Answer No. SKM2024.90.SR, clarifying the VAT exemption for the supply of collective investment fund management services. The taxpayer, an investment management company, provided fund management services for collective investments in transferrable securities (UCITS) and alternative investment funds (AIF), and oversaw departments within an AIF in a shared investment framework. The taxpayer requested confirmation on whether specific recipients of AIF management services qualified as investment associations, and whether management services supplied to capital association departments of an AIF are VAT-exempt under Section 13 of the VAT Act. The ...