§ Mr. Fauldsasked the Under-Secretary of State answering in respect of the Arts whether, with a view to providing public institutions, as prospective buyers, with requisite information as to the amount they would have to raise, the Minister for the Arts will ask the Review Committee on the Export of Works of Art to include the amount of value added tax on dealers' commissions payable by the buyers, as distinct from the sellers, in the total sum to be raised by public institutions in the United Kingdom when purchasing a work of art or museum object for which an export licence has been temporarily withheld.
§ Mr. Waldegrave[pursuant to his reply, 8 March 1984, c. 665]: No. The price specified by the committee represents the fair market price of the object in question and should not include possible additional elements which the committee may not be in a position to establish. These include the VAT position, which will vary according to the circumstances of acquiring institutions, dealers' commissions, and insurance and interest charges that may be incurred.