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VAT: special arrangements applicable to second-hand goods, works of art, antiques and collector's items

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This Directive aims to supplement the common system of VAT by establishing Community tax arrangements applicable to second-hand goods, works of art, collectors' items and antiques.

ACT

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' items and antiques (Official Journal L 60 of 3.3.1994].

SUMMARY

The Directive lays down for second-hand goods, works of art, collectors' items and antiques:

  • special arrangements for taxable dealers;
  • special arrangements for sales by public auction;
  • some transitional arrangements.

Special arrangements for taxable dealers:

  • the Directive covers supplies, by a taxable dealer, of such goods supplied to him within the Community by a non-taxable person, by another taxable person who is not entitled to a deduction or by a taxable dealer;
  • the taxable amount of the supplies of goods is the profit margin made by the taxable dealer, less the amount of value added tax relating to the profit margin. That profit margin is equal to the difference between the selling price charged by the taxable dealer for the goods and the purchase price.

Special arrangements for sales by public auction:

  • Member States are free to determine the taxable amount of supplies of goods covered by the Directive effected under certain conditions by an organizer of sales by public auction on behalf of a non-taxable person, another taxable person or a taxable dealer;
  • the taxable amount of the supply of goods is the total amount invoiced to the purchaser by the organizer of the sale by public auction, less:
    1. the net amount paid or to be paid by the organizer of the sale to his principal; and
    2. the amount of the tax due by the organizer of the sale in respect of his supply.

Member States may, with the agreement of the Council, introduce particular measures to combat fraud.

REFERENCES

ActEntry into forceDeadline for transposition in the Member StatesOfficial Journal
Directive 94/5/EC23.3.19941.1.1995OJ L 60 of 3.3.1994
Last updated: 17.01.2007
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