Title XII: Special schemes

Chapter 4: Special arrangements for second-hand goods, works of art, collectors’ items and antiques

Section 2: Special arrangements for taxable dealers

Subsection 1: Margin scheme

Article 316

1. [1] Subject to no reduced rate having been applied to the works of art, collectors’ items and antiques concerned supplied to or imported by a taxable dealer, Member States shall grant taxable dealers the right to opt for application of the margin scheme to the following transactions:

1. the supply of works of art, collectors’ items or antiques, which the taxable dealer has imported himself;

2. the supply of works of art supplied to the taxable dealer by their creators or their successors in title;

3. the supply of works of art supplied to the taxable dealer by a taxable person other than a taxable dealer.

2. Member States shall lay down the detailed rules for exercise of the option provided for in paragraph 1, which shall in any event cover a period of at least two calendar years.