The temporary Sales and Import VAT reductions for certain works of art introduced by Greek Law 4738/2020 (on which we have written in detail here) have been further extended until 30/6/2024.
Specifically, for the period between 27/10/2020 and 30/6/2024, the sale/purchase of the following works of art will be subject to the reduced 13% VAT rate, if made by their creator or his/her successors: paintings, drawings, collages and similar decorative plaques, original engravings, prints and lithographs, original sculptures and statuary, as well as sculpture casts up to 8 copies supervised by the artist or his/her successors. On the other hand, no change has been made to the special VAT margin scheme regime.
Τhe reduction to 13% on the import VAT of works of art, collectors’ items or antiques and antiquities in Greece has also been extended until 30/6/2024.
We will continue to monitor developments on this matter and write on any further extensions.