European Court of Justice Issues Advocate General Opinion on VAT Margin Regime for Artwork Supplies

The European Court of Justice (ECJ) June 12 issued an Advocate General opinion for Case No. C-433/24, on the application of the VAT margin regime for artwork supplies. The taxpayer, an art gallery business, made an intra-Community acquisition of several paintings from a business established in the U.K. and applied the VAT margin regime to the supplies of those paintings to its customers. Following an audit, the French tax authorities questioned the regime’s benefits and issued additional VAT assessments to the taxpayer. The Advocate General opined that EU countries must allow taxable dealers to apply the VAT margin regime to ...