Fiscal Measures for Visual Arts: A Proposal

Alberto Fiz on Artribune outlined a wishlist for contemporary visual arts, excluded from post-COVID government policies. The sector suffers from opaque dynamics and self-interest, hindering its ability to seek political support. A cultural revolution is needed to restore trust and harness the sector's potential. Franco Broccardi proposes a comprehensive package of tax measures: taxing private art sales to curb speculation while protecting genuine collectors; extending Art Bonus to contemporary art purchases to support emerging artists; applying a reduced 10% VAT to primary market transactions; harmonizing import VAT with competitor countries; introducing a voluntary disclosure for tax regularization; and aligning gallery regulations with auction houses. These measures aim to simplify, strengthen, and modernize the market, boosting competitiveness and transparency. Broccardi notes that sporadic, uncoordinated moves would be counterproductive, while expansionary policies, as seen elsewhere, could benefit the state and operators. The proposals were developed with the Agenzia delle Entrate and presented to the Direzione Generale Creatività Contemporanea del MiBACT. Broccardi laments that visual arts are not on the Minister's agenda, calling for a sector-wide revision to unlock cultural and economic value.