48. Works of art, etc.

Summary

This section implements the special rates provision in respect of goods covered by Schedule 5. This covers works of art, collectors’ items and antiques that are listed in Annex IX of the VAT Directive. The reduced VAT rate of 13.5% applies to imports and supplies of those goods under certain circumstances.

Details

(1)(a) Subsection (1)(a) provides for the 13.5% rate of VAT to apply to imports of works of art, collectors’ items and antiques as specified in Schedule 5.

(1)(b) Subsection (1)(b) provides for the 13.5% rate of VAT to apply to Schedule 5 works of art that are sold by the artists/their successors.

(1)(c) Subsection (1)(c) provide for the 13.5% rate of VAT to apply to Schedule 5 works of art that are sold by accountable persons, not being art dealers, who acquired the art on import, or from the artist, or who got full input tax deductibility on it.

(2) Subsection (2) confirms that the VAT rate applicable to intra-Community acquisitions of Schedule 5 works of art by accountable persons is the 13.5% rate, in cases where the supply prior to that intra-Community acquisition to those accountable persons, if it occurred in the State, would qualify for that rate in accordance with subsection (1)(b) or (c).

Relevant Date: Finance Act 2019