► The works must be performed by living artists, and must be public displayed accessible to employees, customers, suppliers, during amortization period of work, or 5 years.
► The Tax deduction made in respect of each financial year shall not exceed 5% of the annual company turnover.
► Deduction will be 20% price of the work for 5 years.
► Original works of living artists are excluded from base of the professional tax.
Artworks, whatever their nature, are not subject to the solidarity tax on wealth (ISF). To that extent, they are not mentioned into ISF declaration and amounts spent on the acquisition are not taxable. This tax provision, applicable to both paintings, drawings, gouaches, watercolors as sculptures and bronzes, making it a perfect tool uncapping of ISF tax.
In case of resale, he can opt either for flat tax 5%, or for application of general regime of capital gains (same regime as real estate gains forgivable after 21 years). If there are no bill, the seller will pay only the 5% tax.
In case of succession Artwork can be included in the package of 5% of the furniture.
The law allows owners of works to adjust taxes by offering a work to the State in return for royalties due.