The “Simplification Bill” and the circulation of works of art

Article by Nicola Canessa, Marta Fusco and Matteo Maci in Diritto & Affari.

The Simplification Bill also affects the art market by reducing the “reasonable time limit” within which the Italian Public Administration may revoke ex officio, through self-review, an export certificate issued in breach of the law. The measure is consistent with the recent revision of VAT rules on works of art and the possible increase in the value threshold for such certificates, currently under review by the Senate.

The full article is available here.