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ALEXIA WALKER: How tax regimes worldwide affect the art market

Alexia Walker: Business Day

The growth of the art market is tightly linked to tax regulations. Policies relating to import VAT, tax incentives and artists’ resale rights have a profound effect on the art trade.

According to cultural economist Clare McAndrew, there is a growing perception that Europe has become an expensive and complex place to transact. This explains why, after the 2009 economic contraction, the recovery in the UK has been slower than in the US. The looming possibility of a no-deal Brexit will have further impact. …Read More

Image: Generous offer: Auction house Aspire announced earlier in 2018 it would foot the bill for artists selling their works. Picture: SUPPLIED

2019-03-11T06:07:17+00:00