Incoming taxes on capital gains from the sale of the art works

The first rumors about the 2018 Stability Law speak about the introduction of a different taxation system for art works aimed at detecting resources from a potentially very rich market.

In the projects of the Italian Government, it is always necessary to subject capital gains arising from the sale of the art works, up to now excluded from income categories or better, included in various income under art. 67 Tuir, arising from business activities not normally exercised.

Specifically, the Ddl would provide for two taxation schemes: one analytic by imposing the difference between the consideration received in the tax period, net of the costs (capital gain Irpef imposed by progressive stakes), and the other flat rate through the Irpef application on 40% of the sale price. However, the standard brings with it the hypothesis of VAT reduction on import and transfer from the author from 10% to 5%, thus allowing Italy to align with the arrangements provided by France, the United Kingdom and Germany.

The new legislation is presented as "interpretative" and therefore subject to retroactive application,contrary to the taxpayer's Statute. In the absence of clear legislation, there is the difficulty of the Italian Tax Authority to identify the useful parameters to qualify the business for tax purposes.

The study remains available for further information. Please, write an email to: info@stelva.ch