Collecting works of art: Are they taxable? An Italian perspective


  • Marialuciana Di Santi Sapienza University, Rome


Słowa kluczowe:

art, tax regime, Italian tax regime


This article provides an overview of the tax treatment applicable to individuals, whether private individuals or galleries or auction houses, who buy, sell and exchange works of art. It outlines the existing situation on the matter with a specific focus on Italian legislation. The art sector, in fact, no longer considered niche and has all the prerequisites to acquire an ever greater importance, including in the investment sector as a portfolio diversifier.


Download data is not yet available.


Bargarotto E.M., “Regime tributario della cessione di opere d’arte”, Rassegna Tributaria 2019, n. 2.

Bodo M., “Arte & Fisco: il collezionismo e la tassazione dei proventi derivanti dalla vendita di opere d’arte”, Collezione da Tiffany, 10 January 2019.

Deloitte, Fine Art – Direct and indirect taxation aspects, a masterwork of complexity, https://www2. (accessed: 2.03.2020).

Farina P., La fiscalità nella compravendita di opere d’arte. Parte prima: le imposte nell’acquisto, 3 January 2019, (accessed: 2.03.2020).

KPMG Guide on Taxation of art, (accessed: 2.03.2020).

Migliorini F., “Tassazione dei redditi degli artisti per prestazioni all’estero”,, 28 June 2020.

Migliorini F., “Vendita di opere d’arte: pianificazione fiscale”,, 20 August 2018.

Solfaroli Camillocci F., “Taxation, a driver for the Art Market”, Tafter Journal, February 2018.

Staines J., Tax and Social Security – a basic guide for artists and cultural operators in Europe, IETM, 2004–2007.

Sullivan J., “Taxation of artists”, Arts Law Centre of Australia, 30 June 2016.

Sources of law

Decree of the President of the Republic, 26 October 1972, no. 633, Establishment and regulation of value added tax, Official Italian Gazette, General Series of 11 November 1972 – Ordinary Supplement no. 1.

Decree of the President of the Republic, 29 September 1973, no. 597, Establishment and regulation of personal income tax, Official Italian Gazette, General Series of 16 October 1973, no. 268 – Ordinary Supplement no. 1.

Decree of the President of the Republic, 22 December 1986 no. 917, Consolidated Law on Income Taxes (TUIR), Official Italian Gazette, no. 302 of 31 December 1986.

Council Directive 94/5/EC of 14 February 1994 supplementing the common system of value added tax and amending Directive 77/388/EEC – Special arrangements applicable to second-hand goods, works of art, collectors’ item and antiques.

Law Decree, 23 February 1995, no. 41, Urgent measures for the reorganization of public finances and for employment in depressed areas, Official Italian Gazette, General Series of 23 February 1995, no. 45.

Ministry of Finance, Circular of 22 June 1995, no. 177, VAT – Special regime for resellers of used goods, art objects, antiques or collectibles.

Italian Revenue Agency, Circular no. 43/E/2009, Emergence of assets held abroad, 10 October 2009.

Legislative Decree, 22 January 2004, no. 42, Code of cultural heritage and landscape, Official Italian Gazette of 24 February 2004, no. 45.

Italian Revenue Agency, Circular no. 24/E/2010, Methods of applying the reduced VAT rate of 10% on imports of art, antiques or collectibles, 17 May 2010.



Jak cytować

Di Santi, M. (2020). Collecting works of art: Are they taxable? An Italian perspective. Gdańskie Studia Międzynarodowe, 18(1-2), 117–129.