Finland Issues New VAT Guidance on Art, Lowers Reduced Rate to 13.5% from January 2025

• The reduced VAT rate for qualifying art works in Finland is lowered to 13.5% from 14% as of January 1.
• The reduced rate applies to art works meeting statutory definitions, including first sales by the artist or their right holder.
• The same reduced rate applies to qualifying intra-EU acquisitions and imports of art works.
• The new guidance replaces the previous one and is effective from January 1.

Source: news.bloombergtax.com

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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