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

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…
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