- The government extends the 5 percent tax rate in line with EU directive 2022 542
- The decree introduces urgent measures for funding economic activities and businesses
- It includes social interventions and matters related to infrastructure, transport, and local authorities
- The VAT rate is reduced from 22 percent to 5 percent for sales by galleries and art dealers
- The reduction also applies to imports and sales by artists, previously subject to a 10 percent rate
- The measure was requested by many in the art sector due to the significant decline in the Italian art market caused by high VAT rates, among the highest in Europe
Source: eutekne.info
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.
