§ Mr. Fauldsasked the Chancellor of the Exchequer whether he is proposing to change the basis of assessment of value added tax on the buyers' premium charged by certain auctioneers on the sale of works of art and antiques; and whether he will make a statement.
§ Mr. Robert SheldonWhile there is at present no intention to change the basis of assessment the matter is under review, since the Sixth EEC Directive on VAT requires member States to agree a common system of taxation for works of art, antiques and collectors' items.