- German government slashes VAT on art sales to 7%
- Reduction meets long-standing demands from German dealers
- Reduction takes effect from January 2025
- Previous reduced rate of 7% was scrapped in 2014
- New directive in 2022 permits reduced rates for art sales
- Dealers’ association has been pushing for reduced rate for 10 years
- Reduction in rate eliminates imbalances in taxation and strengthens art market
- Dealers’ association welcomes the change, says it will help German art market
Source: theartnewspaper.com
Join our Linkedin Group on ”VAT Rates – Legislative changes”, click HERE
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.