Globe Art Point

TAXATION OF AN ARTIST ENTREPRENEUR   When an artist receives his or her primary income from the sale of artwork, he or she is usually taxed in accordance with the Business Tax Act. In such a case, the artistic activities are comparable to normal business activities with regard to taxation. In the tax guide for visual artists compiled by the Artists’ Association of Finland, the main focus is on activities handled under the Income Tax Act. However, the taxation principles…

Read More Read More

GENERAL INFORMATION ON THE TAXATION OF ARTISTS   The Artists’ Association of Finland has compiled a guide in PDF format (in Finnish) on the most important tax instructions for an artist:  »Ammattitaiteilijan verotusohjeita» The guide focuses primarily on business operations dealt with in accordance with the Income Tax Act. However, the taxation principles presented can to a large extent be applied also to the taxation of artists taxed in accordance with the Business Tax Act. Selection of the tax act…

Read More Read More

THE  BUSINESS TAX OR INCOME TAX ACT?   Paid work and grants The primary source of income is paid work, such as teaching, and/or a grant The Income Tax Act The sale of artwork is taxed in accordance with the Income Tax Act Sale of artwork If the primary source of income is paid work or a grant, the costs from the sale of artwork can be deducted from the wage income Business activity The primary source of income is…

Read More Read More

PURCHASE PRICE, WAGES, OR PAYMENT FOR LABOUR?   In selling works of art, the question sometimes arises of what type of consideration should be charged for the artwork. This is especially significant in terms of taxation and pensions. Sale of a work of art When a finished work of art is sold (for example, from an exhibition), the consideration received for the sale is a purchase price. This is true even if the seller him- or herself has created the…

Read More Read More