Austria's Art Market at a Crossroad: Calls for a Reduction in VAT

Lifestyle & TravelLuxury Goods ♦ Published: June 27, 2025; 10:44 ♦ (Vindobona)

Interest groups representing the Austrian art trade are concerned that Austria may fall behind in the international art trade due to significant market shifts and substantial reductions in VAT in neighboring European countries.

Austrian art trade faces potential loss due to market shift and VAT reductions in neighboring countries, urging for competitive VAT reduction to prevent cultural drain. / Picture: © Wikimedia Commons; C.Stadler/Bwag, CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0/deed.en)

The Austrian Gallery Association is urging politicians to quickly reduce VAT on art sales to a competitive level to prevent an exodus of trade and a cultural drain. Geopolitical crises, economic uncertainty, and the decline of London as a central European trading hub have set the global art market in motion. This dynamic is leading to a repositioning of many countries, which are…