Taxation of income from the sale of works of art

The taxation of income from the sale of art varies significantly from country to country, depending on the specific tax laws of each country. Here is a brief overview of how this income is taxed in Romania and several other countries:


In Romania, income from the sale of works of art is considered as income from other sources and is subject to taxation according to the Tax Code. In general, this income is taxed at a flat rate of 10%. However, it is possible to deduct certain expenses associated with the purchase and sale of art objects, such as restoration costs or commissions paid to art galleries.

United States

In the USA, the sale of art objects may be subject to both income and capital gains tax. Long-term capital gains, i.e. gains from the sale of assets held for more than one year, are taxed at a preferential rate of 20%, while short-term gains are taxed as ordinary income at rates of up to 37%. There is also an additional tax of 3.8% for high-income earners.

The tax is levied in the country in which they operate.


In France, gains from the sale of works of art are subject to a tax of 6% of the gross selling price plus social security contributions. Alternatively, the taxpayer can choose to pay a capital gains tax of 36.2%, if he can prove the purchase price and related costs.

United Kingdom

In the United Kingdom, gains from the sale of works of art are treated as capital gains and are taxed according to the taxpayer’s tax position. Capital gains tax rates are 10% for middle-income taxpayers and 20% for high-income taxpayers. There is also an annual capital gains allowance, which exempts a certain amount from taxation.


In Germany, gains from the sale of art objects are subject to income tax if the sale takes place within one year of purchase. After one year, the gains are exempt from tax. This is known as the “speculative period”.

These examples illustrate the diversity of tax regimes applicable to income from the sale of art globally. It is important that persons dealing in such objects are well informed about their tax obligations in each jurisdiction in which they operate.


Source: ANAF