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Tuesday, 28 January 2014 15:43

Spain Slashes Sales Tax on Art

The interior of Spain's Prado Museum. The interior of Spain's Prado Museum.

In an effort to stimulate Spain’s cultural economy, the country’s government has brought the sales tax for works of art from 21% down to 10%. Spain’s Deputy Prime Minister, Soraya Saenz de Santamaria, said, "It is a measure to support creators of works including paintings, sculptures, art galleries, art dealers, antique dealers and the world of plastic arts in general."

Back in 2012, Spain’s government attempted to put a cap on rising public deficit by raising the general sales tax to 21% from 18%. Spain’s Prime Minister Mariano Rajoy and his conservative government hope that lowering the tax will help promote and defend culture in the country. 

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