ICMS Tax exemption is confirmed for SP-Arte/2016
Once again the São Paulo International Art Fair, SP-Arte will benefit from the ICMS tax exemption for sales made during the Fair. The government of the State of São Paulo published the decree today (February 20th) with the regulations detailing the exemption – which has been in place since 2012 – for the 2016 edition of the Fair.
The regulations and procedures remain the same; residents of the state of São Paulo will be able to benefit from the ICMS tax exemption when purchasing artworks during SP-Arte.
This measure demonstrates the commitment of the government of the State of São Paulo to the development of the Brazilian art market and stimulates the exchange with foreign galleries and promotes the insertion of São Paulo – one of the most influential cities in the global art market – in the international scene.