The broader scope of the Belgian VAT exemption for the management of special investment funds offers opportunities for private equity funds

23-06-2017 - In 2016, the Belgian VAT exemption for the management of investment funds changed following the introduction of new rules for the Belgian Real Estate Investment Trust (B-REIT). However, this change has gone further as, under the new VAT provision, the management of all collective investment funds falling within the scope of the Alternative Investment Fund Management legislation (AIFM) will benefit from the VAT exemption. This development could have important consequences for the fund and private equity industry in Belgium.