Luxembourg VAT compliance changes have been proposed from 2015. The new measures aim to improve the VAT regime in tax free zones and elimination of potential double taxation on goods in VAT suspension released into a free zone. The supply of art and antiques is to be reclassified from the standard VAT rate of 15% to the reduced VAT rate of 6%. Auctioneers may apply for the use of the profit margin scheme, rather than conventional input/output VAT in relation to sales of art, antiques and other used goods. If approved by Parliament, the above measures will be implemented from first of January 2015.
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