NewsEconomics
US coronavirus legislation could do more for the arts, Boston museums say
The coalition is asking for $6bn in federal aid, and to permanently expand the charitable giving deduction to encourage US taxpayers to donate to non-profits
NewsAuction houses
Christie's settles $16.7m in tax claims with New York District Attorney
Manhattan prosecutors say the auction house failed to collect sales tax on $189m in private sales over five years
NewsTax
Demand for New York's first freeport facility steps up
Increasing numbers of dealers and collectors take advantage of tax-exempt Arcis, the foreign trade zone in Harlem
NewsCathedral of Notre Dame
Director of Pinault Collection proposes controversial 90% tax breaks for Notre Dame donors
But Pinault family says it is not seeking tax relief for its €100m donation towards the reconstruction effort
NewsArt market
Jean-Claude Juncker dismisses claims that freeports are ‘systematically used to commit fraud’
European Commission president rebuffs German MEP Wolf Klinz's demand for a proper investigation into the management of Le Freeport Luxembourg
NewsArt market
Trump’s tax Act offers potential tax havens for art
‘Opportunity Zones’ present a new kind of tax-deferred exchange on high-value assets
AnalysisLaw
Rule of law: Legal tips for art lovers
From new exhibitor regulations at Art Basel in Miami Beach to questions over insurance and taxes
NewsArt Basel in Miami Beach
The tax man cometh: new laws on sales tax pose problems for US art dealers
US Supreme Court decision is causing anxiety among dealers
NewsArt market
Dealer Mary Boone pleads guilty to $1.6m in tax fraud
The art dealer will pay $3m in restitution to the IRS after falsifying returns to hide her use of gallery profits to upgrade her Manhattan home
NewsArt market
Guy Wildenstein cleared of tax evasion for a second time in Paris
Franco-American scion of art dealing dynasty was accused of hiding art and other property worth hundreds of millions of euros from French authorities
NewsLaw
Art consultant pleads guilty to filing false tax return
Lacy Doyle hid millions of dollars in inheritance in a Swiss bank account, US Attorney says
NewsTax
How the new US tax law affects the art world
President Trump today signed sweeping changes to the tax system that will impact wealthy individuals, art businesses and museums
InterviewTax
Will the US tax proposal sell out art buyers?
A proposed revision to the tax code could subject sellers to capital gains tax on art and slow the market
News
Public asked to photograph ‘secret collection’ of works stored in homes across the UK
Open Inheritance Art project aims to uncover items that should be publicly available through tax-relief arrangements
News
How the estate of Thailand’s missing ‘Silk King’ was among the winners of Reagan’s 1986 Tax Reform Act
The sweeping legislation cleared a hefty tax bill for the heirs of American businessman Jim Thompson, whose home and collection in Bangkok was turned into a public museum
NewsEconomics
Why should collectors get all the breaks?
Artists seek similar tax incentives for donating works to museums and auctions
NewsEconomics
Will California collectors take their secondary market business out of state?
Panel of federal judges say 5% resale royalty law can only apply to works sold within California
NewsLaw
How to get on with artists, handle mergers and avoid lawsuits
Legal conference tackles issues facing US museums, from commissioning work to developing diversity
NewsArt market
Art considered a depreciable asset in Japan
NewsArt market
UK closes tax loophole after Reynolds legal case
ArchiveTax
Will Obama’s ‘middle-class economics’ hit inherited art?
Proposed tax reforms could make the rich feel less well-off—and less likely to spend on art
ArchiveLawsuits
Barbara Allbritton sues IRS for $40.6m tax refund
The collector is arguing that no transfer of ownership of her collection ever took place
ArchiveArt market
French trade warns of VAT ‘disaster’
Warnings that the French government's proposed VAT hikes will undermine the country's standing in the global art market
ArchiveArt dealers
Air of malaise at Paris fairs
A scheduling clash and an unfriendly tax environment slowed business at most fairs
ArchiveCollectors
Californian collectors hit by tax rise
The rates for use tax and sales tax has increased to 7.5%
ArchiveBernard Arnault
Would French tax hike hit Arnault’s Paris museum?
President Hollande plans to implement 75% tax rate on income above €1m a year
ArchiveCollectors
Oslo collector Martin Schøyen sells 60 manuscripts
He blames Norway’s tax system for his decision
ArchiveRobert Rauschenberg
Taxman swoops on Rauschenberg’s “$65m eagle”
Canyon, 1959
ArchiveCollectors
The obsessions and follies of the charismatic Joost Ritman
The fate of esoteric books and illuminated manuscripts hangs in the balance
ArchiveArt market
New books on art investment aim to capitalise on the emerging field
However, too much knowledge can be confusing... even when it is as well selected as this
ArchiveExhibitions
New Museum show of trustee's collection is an insult to scholarship and curators
Private-collector museums
ArchiveLudwig Museum
Donating to Museum Ludwig's foundation is more profitable than giving to the museum directly
Foundation lures collectors
ArchiveLaw
Artists should have same tax deductions as collectors when donating works of art
The Art Dealers Association of America is lobbying the government to change the law
ArchiveApril 2008
Anthony d’Offay deal with Tate and Scotland sets tax precedent for UK philanthropy
For his partial donation of £125m worth of art, the dealer received £26.5m—the price he originally paid for the collection—tax free
ArchiveCollectors
Russian art collector could face seven years in prison
Vladimir Nekrasov has been charged with corporate tax evasion
ArchiveCollectors
New tax on asset gains for overseas investments could hit UK collectors
Rules change for non-domiciles
ArchiveArt market
Tax breaks fuel Korean sales
Buyers were active in recent auctions and three new art funds have been started
ArchiveJ.M.W. Turner
Turner seller might have done better with Tate
Why was The Dark Rigi sold privately, when a public sale would have given valuable tax breaks?
ArchiveLaw
New legislation could lead to the end of partial gifts to museums
Changes to US tax law could discourage collectors from giving
ArchivePre-Colombian
Tax squabble may force sale of €25m pre-Colombian art collection
Gift to Brussels museum is stalled by dispute between region and state
ArchiveMuseums
The National Gallery purchases Raphael’s Madonna of the pinks: What we know
The Raphael was bought by the National Gallery for £22 million in February 2004
ArchiveArt crime
Shell Company Lawsuit: Gagosian and Brant pay $10 million to Uncle Sam in unpaid taxes
The US lawsuit alleged they created a shell company to avoid paying dues
ArchiveCollectors
Collectors in Washington State targeted in art tax enquiry
Agents are looking at art in museums to determine whether “use tax” was paid
ArchiveAntiquities & Archaeology
Collector gets tax break for donating cylinder seals to university
Archaeologists say the artefacts are likely to have been smuggled out of Iraq
ArchiveArt market
Art buyers are coming forward to authorities to pay unpaid sales tax following the claim that many buyers have been evading sales tax on art
There have been no prosecutions, but some cases remain in litigation
ArchiveGagosian Gallery
US sues Larry Gagosian seeking back income taxes on art sales
Taxman claims he and others created a shell company to avoid tax
ArchiveArt market
A report, produced by David Kusin, suggests that the European art market seems to be in decline compared to that of the US
Are taxes and regulations hamstringing Europe or does the US just spend more?
ArchiveCrime
Over 30 Manhattan art collectors have come forward voluntarily to pay $6 million in unpaid State sales tax on works of art
NY District Attorney promises amnesty for those who come forward while corporate executive Samuel Waksal enters a guilty plea for tax evasion
ArchiveMuseums
Senator investigates MoMA
The Federal Finance Committee aims to stop financial abuses at US museums
ArchiveArt market
With Sotheby's and Christie's allowed to hold sales in Paris for the first time, can Paris regain its lost place in the art market?
A new French revolution?
ArchiveDonations
How to maximise your tax benefit when donating art to charity
in the US, give to get
ArchiveHistoric houses
Sutton Place, the Surrey estate owned by a succession of America art collectors, has appeared on the market
£25 million is asked for the Tudor manor once called home by John Paul Getty
ArchiveCollectors
A famous collector sells up: punitive Spanish export laws induce me to sell, says Jaime Ortiz-Patiño
Golf is the new passion of millionaire who has sold Impressionists and French decorative art to the tune of $91.48 million since 1989
ArchiveArt market
Belgian statistics reinforce British fears that EC policies will drive out the art trade
“VAT and droit de suite have destroyed the nation’s art market”
ArchiveArt market
The UK art market: A £2.2 billion industry
Report from the British Art Market Federation shows the UK art market employs 50,000 people
ArchiveMay 1996
Where does charity stop and commerce begin at US museums?
A legal review of the regulations governing non-profit institutions
ArchiveSponsorship
Spanish to bring in laws that smooth the path for art sponsorship
Tax mandates pertaining to the acquisition of art will be eased for both donors and foundations
ArchiveJanuary 1993
New Czech tax law to encourage private sponsorship for the arts
Tax will now be deductible for donations, but will a 2% relief be enough to make funding art worthwhile?
ArchiveEconomics
Spain debates new legislation that attempts to induce sponsorship of the arts with tax cuts
If the law is passed, sponsors will be granted legal provisions so they might better circumvent obstacles that complicate art funding
CommentTax
How do you tell the difference between philanthropy and a tax write-off?
Jori Finkel