Germany slashes VAT on Art Sales to 7%

June 7 2024

Posted by Adam Busiakiewicz:

The Art Newspaper has reported on news that Germany have reduced VAT on the sale of art to 7%. The previous rate had been 19%.

According to the article:

The Bundesverband Deutscher Galerien und Kunsthändler (BVDG), the dealers’ association, has been pushing for the reintroduction of the reduced 7% rate for the past 10 years. It says the imposition of the 19% rate caused the art market to stagnate and galleries to close, and deterred people from opening new ones. The culture ministry said the reduction in the rate “eliminates imbalances in taxation and strengthens Germany’s art market, including on an international level.”

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