Opinion of Advocate General in GfBk Has an Impact on the VAT Position of Investment Advisers
- E. van Kasteren
- Derivatives & Financial Instruments, 2013 (Volume 15), No 1
- 21 January 2013
After describing the GfBk case and why VAT in that case was so significant, the author analyses the distinction between asset management and investment advisory services for VAT purposes. The opinion of the Advocate General and its current and potential impact are also considered, and suggestions are offered for avoiding potentially adverse VAT consequences.