Since 1992, PensionDanmark has led a VAT case against the Danish Ministry of Taxation. The case has now finally reached its end. The case concerns the VAT liability of a services provided by ATP to PensionDanmark since the establishment of PensionDanmark.
In March 2014, the case was presented to the European Court of Justice at a preliminary hearing. The European Court of Justice ruled in favor of PensionDanmark that the services provided by ATP to PensionDanmark should be treated as VAT exempt. The settlement is based on this ruling.
Under the settlement agreement, PensionDanmark will receive around 200 million DKK in VAT refund in addition to interest thereof.
"This case has been pending since 1992, so today we are both pleased and relieved that it literally paid off to continue this case for so many years.
More importantly, this will benefit our members through even lower administration fees", says CFO Anders Bruun, PensionDanmark.
The Danish law-firm, Plesner has handled the interests of PensionDanmark in this case.
