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The art market in Europe
The world art market is worth over EUR 50 billion. The main player in the global art market is the United States, where 40 % of trade takes place. The UK ranks second, while China is becoming increasingly important. Italy is home to around 1 % of the global art market with Italian artists and collectors who tend to operate more and more in foreign squares. In this global context, influenced by Brexit, European rules and the economic effects of the pandemic, fiscal discipline in the art market is crucial and fair and timely taxation can be an effective tool for developing the sector. On the other hand, penalising taxation, in competitive European terms, prevents Italy from playing a role commensurate with its heritage and creative artistic and cultural credentials.
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