- Luxembourg is reducing VAT on works of art from 17% to 8% starting in January 2025
- The decision was made following efforts by the Luxembourg Association for Art Galleries & Practitioners and VAT Solutions
- The initiative aligns with EU Directive 2022/542 to standardize VAT rates across member states
- The reduced rate aims to make art more affordable and boost local gallery sales and tax revenues
- Luxembourg’s new VAT rate will be more in line with neighbouring countries like France, Belgium, and Germany
Source: vatcalc.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.
