Changes to VAT Margin Scheme for Art, Collectibles, and Antiques from 2025

• The Ministry of Finance has clarified new VAT rules for silver coins and other collectibles effective from January 1, 2025
• Two VAT accounting methods are available for art, collectibles, and antiques general rules and margin scheme
• Changes will affect the margin scheme eligibility for imported art, collectibles, and antiques or items acquired directly from artists or their legal successors
• The margin scheme can only be applied if reduced VAT rates were not used during the import or supply of these items
• The VAT rate remains unchanged for these goods under both the general rules and the margin scheme
• New regulations were introduced by the law dated November 8, 2024, aligning with EU Directive 2022/542 which mandates standard VAT rates for such goods if previously taxed at reduced rates
• The implementation of the directive involved only necessary changes
• From January 1, 2025, sales of imported art, collectibles, and antiques taxed at a reduced rate of 8% in Poland cannot use the margin scheme
• This also applies to silver coins classified as collectibles
• Sellers must use general VAT rules, taxing the full value of the goods but can deduct the VAT paid on imports
• Notifications submitted by taxpayers dealing in these items will expire on December 31, 2024

Source: gov.pl

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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