- German government slashes VAT on art sales to 7%
- Reduction meets long-standing demands from German dealers
- Reduction takes effect from January 2025
- Previous reduced rate of 7% was scrapped in 2014
- New directive in 2022 permits reduced rates for art sales
- Dealers’ association has been pushing for reduced rate for 10 years
- Reduction in rate eliminates imbalances in taxation and strengthens art market
- Dealers’ association welcomes the change, says it will help German art market
Source: theartnewspaper.com
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Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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