ITALY Trends and Developments Contributed by: Guglielmo Maisto, Marco Cerrato, Alessandro Bavila and Stefano Tellarini, Maisto e Associati
which export refusals may be assessed and, where appropriate, challenged. This shift should also be read against the backdrop of a genuine game-changer for the Italian art market: the recent VAT reform. Pursuant to Article 9 of Law Decree No 95/2025, converted into Law No 118/2025, Italy has applied a reduced 5% VAT rate to sales and imports of works of art, antiques and collectors’ items since 1 July 2025 – dramatically cutting the tax burden that previously weighed on many transactions. The reduced rate also extends, where the ordinary VAT regime applies, to sales carried out by market opera - tors such as galleries, dealers and auction houses. With this move, Italy now boasts one of the lowest VAT rates on works of art in Europe, overtaking tradi - tional market hubs and repositioning the country as a highly attractive destination for collectors, investors and international players alike. Far from a mere tech - nical adjustment, the reform is a strategic statement: a deliberate push to revitalise the Italian art market, attract cross-border transactions and restore Italy to its natural role as a leading protagonist on the global art scene.
Taken together, the new export rules and the VAT reduction converge towards a single, unmistakable goal: a more competitive, market-aware framework for the lawful circulation, sale and import of art in Italy. Crucially, the reform does not dismantle Italy’s protec - tive system – it sharpens it, stripping away unneces - sary fiscal and administrative friction while keeping robust safeguards in place for works of genuine cul - tural significance.
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