Value Added Tax Consolidation Act 2010 section 48

Works of art, etc.

Section 48 applies a reduced VAT rate to the importation and supply of works of art, collectors' items and antiques listed in Schedule 5.

• The reduced rate of 13.5% applies to the importation into the State of works of art, collectors' items and antiques specified in Schedule 5.
• The reduced rate applies to the supply of a Schedule 5 work of art by its creator or the creator's successors in title.
• The reduced rate applies to occasional supplies of Schedule 5 works of art by accountable persons who are not taxable dealers, provided the work was imported by them, acquired from the artist, or the VAT on its purchase was fully deductible.
• The reduced rate also applies to intra-Community acquisitions of Schedule 5 works of art where the underlying supply would have qualified for the reduced rate under the artist or occasional-supply rules had it taken place in the State.