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India Loosens Tax Laws on Art

March 1, 2011 by Marion Maneker

Thaindian reports on India’s move this week to open itself up to making art easier to repatriate:

India’s art fraternity Monday gave a huge thumbs up to the budget for 2011-12, saying it would free imported art and antiquities from the shackles of customs duties and help bring more works from abroad to the country. Culture Minister Kumari Selja also hailed the move. Selja said in a statement the concession by the government would encourage “more and more private, corporate and philanthropic organisations and individuals, to promote and popularise Indian art”.

Private parties also welcomed the budget, which removed customs duties on works of art and antiquities imported for exhibition by private promoters. Hitherto, this exemption was available only to public institutions.

The government’s move will “internationalise art in India”, said Neha Kirpal, director of the India Art Summit, the country’s biggest art fair.

Budget frees art from customs’ shackles, frat upbeat (Thaindian)

 

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Filed Under: Emerging Markets Tagged With: India

About Marion Maneker

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