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"
- Agenda of the ECJ/General Court VAT cases -8 Judgments, 1 AG Opinion and 1 Hearing till March 12, 2026
- General Court VAT Case: T-880/25 (Czechanowicz Ekologia i Zielen) – Questions – Invoice‑Level Data Requirements in EU VAT Refunds
- General Court VAT case T-851/25 (Roenes) – Questions – Transfer of a Totality of Assets: Economic Continuity vs. Supplier Intention
- Business Leaders Call on EU to Modernize Customs Union and Revive Türkiye Membership Talks
- EU VAT Compliance Gap Hits €128 Billion in 2023, Driven by Six Major Economies
