Inflation has impacted economies worldwide, leading to reduced purchasing power for consumers and uncertainty for industrial growth and company profits. This has increased the value of safe-haven assets like houses, gold, and art. Investing in art may have VAT implications, with changes to VAT rates and reporting due in 2025. Some EU Member States have reduced VAT rates for art, but the EU Directive 2022/542 aims to harmonize rates by applying the standard VAT rate to art. Italy sees this as an opportunity, while France’s art market has benefited from a reduced VAT rate. Changes to art VAT rates in Europe are ongoing.
Source Sovos
Click on the logo to visit the website
Latest Posts in "European Union"
- New SDEU Ruling May Allow Earlier VAT Deduction Without Waiting for Invoice Receipt
- Input Tax Deduction and Gratuitous Value Transfers: New BMF Guidelines Effective from 2026
- Parcels from outside the EU 5 euros more expensive from November due to extra import duties
- EU Financial Sector Tax Reform: Divided Parliament Debates VAT, IPT, and FTT Amendments
- Online workshop – Reality check on the revision of eInvoicing Directive (April 27)
