- Italy reduced the VAT rate on art, collectibles, and antiques to 5% effective July 1, 2025.
- The reform abolishes the previous 10% reduced rate and applies the new 5% rate to most sales, imports, and intra-EU acquisitions of eligible art items.
- The 5% VAT rate cannot be combined with the margin scheme; dealers must choose between the two regimes.
- The reform aligns Italian VAT rules with EU policy and provides new opportunities and regulatory impacts for international art market operators.
Source: charlesrussellspeechlys.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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