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PPG Holdings and pension funds management

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On 18 April 2013, advocate general (AG) Sharpston delivered her opinion in PPG Holdings (C26/12), the latest case to consider whether defined benefit pension schemes are ‘special investment funds’ for VAT exemption purposes. In addition, the case considered whether sponsoring employers of defined benefit pension schemes can deduct the VAT invoiced to them as being directly linked to their own taxable activity. The AG unsurprisingly follows the recent Wheels decision that such schemes are not ‘special investment funds’. The AG also partially agrees with the UK that sponsoring employers may deduct a proportion of the VAT in relation to certain activities.

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