Case C-464/12: Judgment of the Court (Fifth Chamber) of 13 March 2014 (request for a preliminary ruling from the Østre Landsret (Denmark)) — ATP PensionService A/S v The Skatteministeriet (Sixth VAT Directive  — Exemptions  — Article 13B(d)(3) and (6)  — Special investment funds  — Occupational pension schemes  — Management  — Transactions concerning deposit and current accounts, payments or transfers)
Date: 2014-03-13
Institutions: Court of Justice
Subjects: VAT, basis of tax assessment, financial services, investment company, pension scheme, tax exemption, tax harmonisation








C_2014135EN.01000801.xml










5.5.2014   


EN


Official Journal of the European Union


C 135/8






Judgment of the Court (Fifth Chamber) of 13 March 2014 (request for a preliminary ruling from the Østre Landsret (Denmark)) — ATP PensionService A/S v The Skatteministeriet
(Case C-464/12) (1)

((Sixth VAT Directive - Exemptions - Article 13B(d)(3) and (6) - Special investment funds - Occupational pension schemes - Management - Transactions concerning deposit and current accounts, payments or transfers))
(2014/C 135/08)
Language of the case: Danish

Referring court

Østre Landsret

Parties to the main proceedings


Applicant: ATP PensionService A/S

Defendant: The Skatteministeriet

Re:

Request for a preliminary ruling — Østre Landsret — Interpretation of Article 13B(d)(3) and (6) of Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes — Common system of value added tax: uniform basis of assessment (OJ 1977 L 145, p. 1) — Exemptions for transactions concerning deposit and current accounts and for the management of special investment funds — Supply of services relating to payments of funds into a pension fund.

Operative part of the judgment







1)


On a proper construction of Article 13B(d)(6) of Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonisation of the laws of the Member States relating to turnover taxes — Common system of value added tax: uniform basis of assessment, pension funds such as those at issue in the main proceedings may fall within the scope of that provision if they are funded by the persons to whom the retirement benefit is to be paid, if the funds are invested using a risk-spreading principle, and if the pension customers bear the investment risk. In that regard, it is of little consequence that the contributions are paid by the employer; that the amount paid in is based on collective agreements between labour-market organisations; that there are different ways of paying out the funds invested; that contributions are deductible under income tax law; or that it is possible to add an insurance element which is ancillary to the other services provided;










2)


On a proper construction of Article 13B(d)(6) of the Sixth Directive, the term ‘management of special investment funds’ used in that provision covers services by means of which an undertaking establishes the rights of pension customers vis-à-vis pension funds through the opening of accounts in the pension scheme system and the crediting to such accounts of the contributions paid. That term also covers accounting services and account information services such as those listed in Annex II to Council Directive 85/611/EEC of 20 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS), as amended by Directives 2001/107/EC and 2001/108/EC of the European Parliament and of the Council of 21 January 2002;










3)


On a proper construction of Article 13B(d)(3) of the Sixth Directive, the VAT exemption laid down in that provision for transactions concerning payments and transfers covers services by means of which an undertaking establishes the rights of pension customers vis-à-vis pension funds through the creation of accounts for those customers within the pension scheme system and the crediting to those pension customers’ accounts of the contributions paid, and any transactions which are ancillary to those services or which combine with those services to form a single economic supply.






(1)  
            OJ C 9, 12.1.2013.