Tax

Collectorsarchive

Russian art collector could face seven years in prison

Vladimir Nekrasov has been charged with corporate tax evasion

Art marketarchive

Tax breaks fuel Korean sales

Buyers were active in recent auctions and three new art funds have been started

Turner seller might have done better with Tate

Why was The Dark Rigi sold privately, when a public sale would have given valuable tax breaks?

Lawarchive

New legislation could lead to the end of partial gifts to museums

Changes to US tax law could discourage collectors from giving

Tax squabble may force sale of €25m pre-Colombian art collection

Gift to Brussels museum is stalled by dispute between region and state

Museumsarchive

The National Gallery purchases Raphael’s Madonna of the pinks: What we know

The Raphael was bought by the National Gallery for £22 million in February 2004

Art crimearchive

Shell Company Lawsuit: Gagosian and Brant pay $10 million to Uncle Sam in unpaid taxes

The US lawsuit alleged they created a shell company to avoid paying dues

Collectorsarchive

Collectors in Washington State targeted in art tax enquiry

Agents are looking at art in museums to determine whether “use tax” was paid

Collector gets tax break for donating cylinder seals to university

Archaeologists say the artefacts are likely to have been smuggled out of Iraq

US sues Larry Gagosian seeking back income taxes on art sales

Taxman claims he and others created a shell company to avoid tax

Crime archive

Over 30 Manhattan art collectors have come forward voluntarily to pay $6 million in unpaid State sales tax on works of art

NY District Attorney promises amnesty for those who come forward while corporate executive Samuel Waksal enters a guilty plea for tax evasion

Museumsarchive

Senator investigates MoMA

The Federal Finance Committee aims to stop financial abuses at US museums

Collectorsarchive

A famous collector sells up: punitive Spanish export laws induce me to sell, says Jaime Ortiz-Patiño

Golf is the new passion of millionaire who has sold Impressionists and French decorative art to the tune of $91.48 million since 1989

Art marketarchive

The UK art market: A £2.2 billion industry

Report from the British Art Market Federation shows the UK art market employs 50,000 people

May 1996archive

Where does charity stop and commerce begin at US museums?

A legal review of the regulations governing non-profit institutions

Spanish to bring in laws that smooth the path for art sponsorship

Tax mandates pertaining to the acquisition of art will be eased for both donors and foundations

New Czech tax law to encourage private sponsorship for the arts

Tax will now be deductible for donations, but will a 2% relief be enough to make funding art worthwhile?

Economicsarchive

Spain debates new legislation that attempts to induce sponsorship of the arts with tax cuts

If the law is passed, sponsors will be granted legal provisions so they might better circumvent obstacles that complicate art funding