The end of the Listed Places of Worship Grant Scheme leaves churches facing sudden cost increases, forcing vital repairs to be delayed or abandoned and placing artworks—from medieval carvings to rare murals—at growing risk

While its neighbours slash their VAT rates on art sales, Spain's remains stubbornly high, leaving its galleries in a "position of complete irrelevance"

Dealers noted greater internationalism and strong sales at the Turin fair

The move comes ahead of a series of planned reforms to improve competitiveness within the Italian art market

The reduction, which comes into effect next year, meets long-standing demands from German dealers

A directive that aims to create a single value-added tax system will enable member countries to set their own reduced rates internally