German galleries block VAT increase

“A new law proposed by the European Commission would have lifted temporary cuts to the VAT on the sale of original works of art, causing it to rise from 7% to 19%, a move that is widely opposed by the art world as well as the German minister of culture, Bernd Neumann. But the BDGV recently blocked the approval process, and the chances of the VAT rise going into effect this year are getting slimmer.”

Every sector and industry makes a case for being an exception and paying reduced VAT.

http://www.theartnewspaper.com/articles/German+galleries+block+VAT+increase/29573

Eamon McNicholas
Tax Barrister, Accountant
EamonMcNicholas.com

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About Eamon McNicholas

Tax Barrister, Accountant www.EamonMcNicholas.com
This entry was posted in Tax and Accounting News and tagged , , , , , . Bookmark the permalink.

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