Through the Order of July 27, 2013 implementing the Directive of June 8, 2011 on managers of “alternative investment funds” – also known as the “AIF” Directive (Alternative Investments Funds)
VAT exemption for investment advisory services provided to management companies
ECJ confirmed in a decision dated March 7, 2013 the VAT exemption applied to investment advisory services rendered by a third party advisor to a management company of a special