VAT

‘Momentous’: Italy to slash art VAT to 5%, the lowest rate in the EU

The move comes ahead of a series of planned reforms to improve competitiveness within the Italian art market

Germany slashes VAT on art sales to 7%

The reduction, which comes into effect next year, meets long-standing demands from German dealers

EU dealers lobby to slash VAT rates on art sales

A directive that aims to create a single value-added tax system will enable member countries to set their own reduced rates internally