Pensions

Supreme Court interprets VAT exemption for collective asset management in broad terms: management of individual assets via investment profiles is exempt

On December 4, 2020 the Supreme Court rendered judgments in two important asset management cases.

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Dutch Supreme Court decision on Dutch withholding tax on dividends paid to foreign investment funds

The Supreme Court ruled that its earlier judgments from 2013 and 2015 were an incorrect interpretation of EU law and that foreign investment funds should be entitled to a refund of the Dutch dividend withholding tax paid if certain conditions are met. These conditions are however very difficult to meet.

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AG of the Supreme Court: management of individual assets via investment profiles is subject to VAT

On September 23, 2020 Advocate General to the Supreme Court, Ms. C.M. Ettema, issued Opinions in two interesting asset management cases.

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Lump Sum Payment, Early Retirement Scheme and Leave Savings Scheme Bill

In this bill the government elaborates on three of the agreements made as part of the Pension Agreement: more freedom of choice in the use of the pension, more options for early retirement and more scope to utilize the tax relief for saving leave for the purposes of early retirement.

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VAT recovery based on actual use permitted for bank

On March 27, 2020 the Court of Appeals Den Bosch rendered an interesting judgment about the recovery of VAT in a case concerning a financial institution. The Court ruled that the bank’s ‘actual use method’ had been sufficiently substantiated.

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Assessment of early retirement scheme on the basis of objective criteria

On Friday June 22, 2018, the Supreme Court rendered judgment as to whether a severance package should be regarded as an early retirement scheme ('regeling voor vervroegde uittreding', hereinafter: RVU). An RVU is a scheme whose sole or almost sole purpose is to provide for one or more benefits to bridge the period between the end of employment and retirement or an earlier pension date. 

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VAT policy statement on specific state supervision of investment funds

On April 1, 2019, the Deputy Minister of Finance (hereinafter: Deputy Minister) published the Specific State Supervision Policy Statement, effective April 2, 2019. In this policy statement the Deputy Minister elaborates on the qualification ‘specific state supervision’, which the Court of Justice of the European Union (hereinafter: CJEU) imposed as one of the conditions for applying the VAT exemption for the management of special investment funds (Article 135(1)(g) EU VAT Directive).

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Pensions and tax advice

A solid pension scheme involves a range of complex and non-standard legislation. As a result, there are tax challenges for all parties concerned (employees, employers and pension funds or administrators). Meijburg & Co's pension specialists are here to help you.

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