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BASQUE COUNTRY AND NAVARRE: Want to invest in art?

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In times of economic instability, art objects constitute a safe haven.

BASQUE COUNTRY AND NAVARRE: Want to invest in art?

Investing in works of art and antiques can ensure investors a reasonable return without incurring excessive risk of loss of invested capital. However, before undertaking one of these investments, it is important to take into account the taxation of the purchase, possession, and sale of these types of assets:

√ The acquisition of a work of art may be subject to VAT or ITP, depending on who the seller is.

√ Owning works of art may increase taxation in the Wealth Tax. However, it is possible to enjoy exemptions in certain cases.

√ It is also important to know how to tax the gains obtained from the sale or transfer of these assets, depending on whether it is a sporadic or regular activity.

 If you have considered acquiring art objects or antiques, contact us. We will advise you on the taxation of these types of investments.

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You can access the legal notice and the complete information here

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