Italian government announces cut in VAT on artwork sales from 22 to 5 per cent

The Italian government has announced a cut in VAT on sales of works of art from 22%, the highest rate in the European Union (EU), to 5%, the lowest rate in the EU. The closest to Italy in this respect are Germany and France, with VAT at 7% and 5.5% respectively.

The government's decision followed pressure from Italian galleries, artists, auction houses and participants in the art market. The Italian Minister of Culture, Alessandro Giuli, stated that the tax relief should bring respite to "the entire art ecosystem, one of the most important bulwarks of our cultural identity", writes Artguide.

From my own experience I can say that the silliest rules are to be found in Italy and Spain

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Italian government announces cut in VAT on artwork sales from 22 to 5 per cent

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September digest: archaeological finds, exhibitions, museums, theatre and the Church

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