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Artwork and ISF for private users

You are exempt from taxes on wealth tax
The artworks that you obtain on MyArtMakers are not submissive to ISF(solidarity taxes on fortune).
Even if you are the happy owner of a painting, a sculptor or even a drawing, you have no obligation to declare it to the ISF. Indeed, the amount of money that you invest on our website for your pleasure or for others is not taxable. So why are you hesitating?
Would you like to hand down an inheritance?

If you do want to hand down an artwork there are several conditions, MyArtMaker's artworks can be included in a all-in-price furnishing-furniture explained in the following fiscal instruction :

Artworks must be evaluated separately. The different kind of "furniture" is sometimes seen as subtle. In the 17th article from October 1995, the cassation court declared that the artwork's author's notoriety should be put aside and that we should refer to the article 534 from the Code civil in order to define the notion of "furnishing-furniture", The general tax code was silent about it. The Code civil was more precise :

« the furnishing-furnish is only used for decoration in apartments, for instance; carpets, beds, chairs, mirrors, clocks, tables, porcelain and other decoration of that variety. Paintings and statues that are part of furnishing the apartment are also included but not painting collections that are found in galleries or private collections. »

Obvious consequences: A painting on a an apartment wall can be included in 5% of the all-in-price. Which wouldn't be the case if it was conserved in a box or in any other premises.

A fiscal instruction accepted this opinion and recalled that the administration has the right to carry out a beating if they prove that the real value of the furniture is over the 5% all-in-price. It can also refer to the value declared to the assurance companies or the price it reached at an auction two years before the owner deceased. (inst. 8/4/98 BOI 7G698)

You want to resale? More the value and more advantageous taxes are.

You probably already know, but all artworks that you obtain through MyArtMakers come with an authenticity certificate and an invoice. With those you have two possibilities:

You can be submissive to a tax of 5% on the most expensive artwork that are on resale.
You could be submissive to general application system of surplus value which is identical to the real estate surplus value. You also need to know that you could be exempted from the tax if the artwork has been in your possession for more than 21 years.
Payment dating

In compensation to rights owned to the state; an artwork's owner may have to hand over an artwork in order to pay debts or taxes. Since 2006, all living artist's artworks is eligible to dating. The artworks are accepted from the state if they denote a high artistic value, in order to keep the national artistic patrimonial. This has also been adopted by some other countries, such as Belgium, Great-Britain, the Netherlands and Switzerland.

The taxes that are most likely to be acquitted by the payment dating:

The rights owned on the deceased's transactions.
The free transfer rights between the living and the right to share.
ISF.
The article 384 A from the annex II in the CGI (general tax code).

« the heir, donor, legatee or co-dividend that desire to acquit all or part of the transfer or sharing rights that own an amount when handing over an artwork or document aiming the article 1716bis from the CGI, taxes must be deposited to the tax services or hypothetical conservation in order to save the act observing the transfer, a sharing or succession declaration, a dating offer to the state showing the nature and value of every possession he wishes to send to the state. He is delivered a receipt. ».