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UK wins 2.5% VAT for works of art

Language: English Series: Financial Times ; 14 December 1993, 5 | Daily Telegraph ; 14 December 1993, 2 | Antiques Trade Gazette ; (1118) 25 December 1993-1 January 1994, 1(2)Publication details: 1994Subject(s): Summary: Following agreement for a VAT levy on secondhand goods the UK has won a special concession that 2.5% VAT will be charged on works of arts imported from third countries until 1999. British auction houses welcomed the decision.

Following agreement for a VAT levy on secondhand goods the UK has won a special concession that 2.5% VAT will be charged on works of arts imported from third countries until 1999. British auction houses welcomed the decision.