Photo by Pamela Hallam on UnsplashWith both domestic and imported artworks now subject to just 5% VAT, Italy has dramatically lowered the cost of acquiring art, especially from overseas dealers. This change replaces the previous 10% import VAT and 22% domestic rate, putting Italian collectors in one of the most favourable tax environments for buying art in Europe.
For Italian collectors importing from the UK, this shift is particularly significant. Artworks imported into Italy from British galleries such as Andipa now attract only 5% import VAT upon entry, creating a major incentive to buy internationally. The result? A more level playing field for Italian collectors and a rare financial advantage in a market that is often tightly regulated.
If you're an Italian collector seeking to acquire museum-grade works, whether a Banksy original painting or Picasso drawing from Andipa Gallery, or a David Hockney or Andy Warhol print from Andipa Editions, there has never been a better moment.
With over 58 years experience in international advice, sales and collecting, Andipa Gallery is uniquely placed to handle the logistics, paperwork, and expertise required to navigate this new opportunity re-opened since Brexit.
For further reading read the informative article in the Art Newspaper here.