- New VAT reduction aims to boost the art, antiques, and collectibles market
- Historically, art has benefited from reduced VAT rates to promote cultural heritage
- Previous 10 percent VAT applied only to imports or sales by artists or their heirs
- From July 1, 2025, a 5 percent VAT applies to all sales of art, antiques, and collectibles
- Import VAT rate also reduced from 10 percent to 5 percent
- Reduced VAT now applies to all intra-community purchases of art, antiques, and collectibles
- Exceptions apply if the special regime for used goods dealers is in place
- Change results from a law requiring reduced VAT on art imports and sales
- Italy aims to encourage legal circulation of art and reduce the underground market
- Lower VAT rates could positively impact international art trade and fairs
Source: commercialistatelematico.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.
