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

The Danish Customs and Tax Administration Sept. 2 posted online Tax Council Binding Answer No. SKM2024.430.SR, clarifying the VAT exemption for collective investment fund (CIF) management services. The taxpayer, an investment management company, provided management services to investment associations covered by the EU directives on undertakings for collective investment in transferable securities (UCITS) and alternative investment fund (AIF) management. The taxpayer sought confirmation that the management services provided to the UCITS funds and collective AIFs were exempt from VAT. The Tax Council confirmed that the services the taxpayer supplied to UCITS funds and collective AIFs were VAT-exempt because they were ...