As of 1 July, some changes to the VAT regime for the sale of works of art came into force, as a result of Legislative Decree no. 95 of 30.6.2025 (converted into Law no. 118 of 8.8.2025).
Both imports and domestic supplies of works of art, antiques or collectors’ items are subject to VAT at the reduced rate of 5% (instead of the rates previously in force, equal to 22% or reduced to 10% for imports or transfers, by authors and their heirs or legatees, of works of art identified in Table A attached to the VAT Decree).
If the transactions carried out by professional operators are always subject to VAT, particular attention must be paid in the case of supplies of works of art carried out by private individuals, since only the habitual trade in works of art integrates the subjective VAT prerequisite. On the other hand, the supplies carried out by the so-called “occasional speculators” do not integrate the subjective VAT prerequisite due to the lack of the requirement of habituality.
On the other hand, imports are always subject to VAT, whether they are carried out by private individuals or by VAT taxable persons.
Finally, it should be remembered that the distinction between the figures of the habitual merchant, the occasional speculator and the pure collector also becomes relevant for the correct classification of transfers for the purposes of direct taxes.