Définition Fiscale d'une Oeuvre d'Art -Tax Definition of works of Art in France

* In France, Article 98 A II of the Annex III of the Tax Code in France gives a special definition to artwork that implies fiscal facilities. For Individuals, according to Article 855 – I of the General Tax Code, the work of art acquisition is not subject to the solidarity tax on wealth (ISF). This tax provision, applicable to both paintings, drawings, gouaches, watercolors, sculptures and bronzes, is a perfect tool to optimize the ISF. According to Article 238 bis AB of the General Tax Code, Companies that wish to purchase original works by living artists and expose them in their building will benefit from tax deductions on income for the year of acquisition and the following four years,  to encourage philanthropy by allowing  to reduce their income tax in return