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Commentary

Margin scheme: second-hand goods, works of art, collectors' items and antiques

10 Czech Republic
10 Czech Republic | Commentary

Margin scheme: second-hand goods, works of art, collectors' items and antiques

10 Czech Republic | Commentary

Margin scheme: second-hand goods, works of art, collectors' items and antiques

The Czech Republic operates a special margin scheme for dealers in second-hand goods, as required by the Principal VAT Directive. The margin scheme enables the dealer to account for VAT on the margin between the buying and selling prices rather than on the full selling price of the goods. Use of the scheme is optional.

Eligible goods include:

  1.  

    •     second-hand goods, ie used goods that are suitable for further use as they are or after repair;

  2.  

    •     works of art including pictures, paintings, collages and drawings; and

  3.  

    •     antiques and

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