Tax Fight: European Union Demands That Germany End Its Special Treatment of Art... or Pay the Price | Artinfo
In Brussels on Monday the EU Commission told Germany it
was high time to raise its tax on art. For decades, German collectors
and gallerists have benefited from a significantly reduced value added
tax (VAT) on artworks and collectibles. At seven percent of purchase
price, the tax is nearly three times below the conventional VAT of 19
percent for goods and services across the nation. It is also less than
half the mandatory 15 percent VAT required by the EU.
In Brussels on Monday the EU Commission told Germany it
was high time to raise its tax on art. For decades, German collectors
and gallerists have benefited from a significantly reduced value added
tax (VAT) on artworks and collectibles. At seven percent of purchase
price, the tax is nearly three times below the conventional VAT of 19
percent for goods and services across the nation. It is also less than
half the mandatory 15 percent VAT required by the EU.
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