![CJEU BlackRock single management service not partly VAT-exempt](/sites/default/files/styles/search_result/public/2020-07/hamer_rechter.jpg)
Confirmation by CJEU in BlackRock case: a single management service is not partly VAT-exempt
On July 2, 2020 the Court of Justice of the European Union (‘CJEU’) rendered judgment in the BlackRock Investment Management (UK) Limited case (C-231/19). The CJEU concluded that a single fund management service cannot be partly VAT-exempt. The outcome of this judgment is not only important for taxpayers that are involved with investment funds, but also for providers and purchasers of other types of composite services.