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Fine Art - Direct and indirect taxation aspects | Brochure

A masterwork of complexity


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Art can be viewed in a multitude of ways– a store of wealth, a masterpiece to cherish, a family heirloom, a part of a trust or estate, or even a gift to a cultural institution.

Whatever owning an artwork means to a private individual, business or public entity, tax concerns are always relevant.

Building on the strength of Deloitte’s dedicated Art & Finance initiative, our Luxembourg and global tax experts have turned their attention to creating tailor-made tax structuring solutions for art holdings. An art collection frequently represents a substantial part of a family’s wealth and has become a key aspect of its financial and succession planning.

Art represents an asset that is becoming increasingly part of a family’s identity, as well as an investment opportunity that offers returns and diversification. Recent developments have shown that there is a significant opportunity to integrate art into wealth management as a way of preserving and growing a family’s wealth. With the popularity of art as an asset class continuing to grow, Deloitte Luxembourg has for the past several years been providing a wide range of Art & Finance services to its clients: private and corporate collectors, cultural and art institutions, foundations, banks, asset management companies, family offices, etc.

In particular, Deloitte Luxembourg, supported by the Deloitte network, draws on the expertise of a number of tax professionals to create solutions to the art taxation issues our clients face. Deloitte possess a global network that allow us to serve our clients worlwide. Thanks to our widespread network we have develop an art tax matrix that detail the different tax exposures in various countries in order to provide you with an high-level snapshot on tax issues related to art for private clients.

In additioin, we can provide tailor-made tax structuring solutions for investments in artworks, which may encompass transferring a collection to a cultural institution, setting up an investment fund, etc.

Your challenge

  • Tax guidance for entities operating as national or international companies
  • Tax guidance for art dealers operating in an international environment
  • Tax guidance for the management of the collections of HNWIs & UHNWIs
  • Leveraging the Luxembourg Freeport
  • Tax advisory for structuring arrangements for an art collection
  • Transferring a collection to a cultural institution
  • Setting up an investment fund

Our solution

  • Tax structuring (with emphasis on the available structures developed in Luxembourg)
    • Competitive effective tax rate
    • Luxembourg holding structure
  • Developing tax-related services for your clientele
    • Tax and inheritance planning
  • VAT advisory for holding and trading art assets
    • Freeport development in Luxembourg

www.deloitte-artandfinance.com

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