EU art levy threatens ‘catastrophe’
By Peter Aspden, Arts Correspondent
Published: April 4 2008 03:49 | Last updated: April 4 2008 03:49
The British art market faces a “potential catastrophe” if plans to extend a European Union levy on artists’ resale rights, known as droit de suite, go ahead, a report has warned.
The levy was introduced across the EU in 2006. In most countries, it takes the form of a sliding-scale tax of up to 4 per cent on all sales of art works made by artists who have died in the last 70 years.
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