Reduced Tax Rate for Art Trading to Come into Effect in 2025 – Minister of State for Culture Roth: “Important Support for Galleries, Artists, and Artists
On November 22, 2024, the Federal Government published a new article entitled “Ermäßigter Steuersatz für Kunsthandel kommt ab 2025 – Kulturstaatsministerin Roth: “Wichtige Unterstützung für Galerien, Künstlerinnen und Künstler”” (Reduced Tax Rate for Art Trading to Come into Effect in 2025 – Minister of State for Culture Roth: “Important Support for Galleries, Artists, and Artists”). This article introduces a new reduced tax rate for art trading that will come into effect in 2025.
According to the article, the reduced tax rate of 12% will apply to sales of original works of art, such as paintings, sculptures, and other works of visual art. This rate will replace the current 19% value-added tax (VAT) rate. The reduced tax rate is intended to support galleries, artists, and artists by making art more affordable and accessible to the public.
The Minister of State for Culture, Claudia Roth, stated that the reduced tax rate is an important step in supporting the cultural sector. She said, “The reduced tax rate for art trading is an important support for galleries, artists, and artists. It will make art more affordable and accessible to the public, and it will strengthen the cultural landscape in Germany.”
The reduced tax rate for art trading is part of the German government’s efforts to support the cultural sector. In recent years, the government has introduced a number of measures to support artists and cultural institutions, including increased funding for the arts and the establishment of a new fund to support artists during the COVID-19 pandemic.
The reduced tax rate for art trading is a welcome development that will benefit galleries, artists, and artists. It will make art more affordable and accessible to the public, and it will strengthen the cultural landscape in Germany.
Here are some additional details about the reduced tax rate for art trading:
- The reduced tax rate of 12% will apply to sales of original works of art, such as paintings, sculptures, and other works of visual art.
- The reduced tax rate will not apply to sales of reproductions or other mass-produced works of art.
- The reduced tax rate will come into effect on January 1, 2025.
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Die Bundesregierung a new article on 2024-11-22 15:07 titled “Ermäßigter Steuersatz für Kunsthandel kommt ab 2025 – Kulturstaatsministerin Roth: “Wichtige Unterstützung für Galerien, Künstlerinnen und Künstler””. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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