Where works of art are concerned, France’s tax system is most attractive, both for individuals and for companies.
For individuals, the fiscal issues focus on three main points:
- The tax on wealth: works of art are fully exempt
- The taxation on windfalls in the event of resale is very favourable
- Inheritance taxes, whether classical or as donations
Any company purchasing an original work may, under certain conditions, deduct the purchase price from its results for the year of purchase.
This oft-unrecognized tax break also offers the company an opportunity to reveal its more human side, as a patron of the arts.
Please consult us should you wish any additional information.