Legal analysis: If the entrusting party enjoys the policy of exemption from value-added tax in accordance with the regulations when auctioning cultural relics and artworks by a bank, the auction house can issue an ordinary VAT invoice to the buyer for the goods collected by it in its own name, and the corresponding goods price is not included in the VAT taxable income of the auction house. The auction institution shall keep the following paper or electronic proof materials for future reference: the picture information of the auction items, the entrusted auction contract, the confirmation of the auction transaction, the identity certificates of the buyers and sellers, the receipt and transfer vouchers of the price, and the relevant information of the personal income tax withheld and remitted by the entrusting party. Cultural relics and works of art, including calligraphy and painting, ceramics, jade and stone tools, metal products, lacquerware, bamboo and wood tooth carvings, Buddhist utensils, classical furniture, purple sand tea sets, offerings from study rooms, inscriptions on ancient books, philatelic products, coins, jewelry and other collectibles.

Legal basis: Announcement of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China on Several Issues Concerning Defining the Collection and Management of Value-added Tax in Used Car Distribution Article 3 If an auction house is entrusted to auction cultural relics and artworks, and the entrusting party enjoys the policy of exemption from value-added tax according to regulations, the auction house may issue an ordinary VAT invoice to the buyer for the price of the goods collected, and the corresponding price of the goods shall not be included in the taxable income of the auction house. The auction institution shall keep the following paper or electronic proof materials for future reference: the picture information of the auction items, the entrusted auction contract, the confirmation of the auction transaction, the identity certificates of the buyers and sellers, the receipt and transfer vouchers of the price, and the relevant information of the personal income tax withheld and remitted by the entrusting party. Cultural relics and works of art, including calligraphy and painting, ceramics, jade and stone tools, metal products, lacquerware, bamboo and wood tooth carvings, Buddhist utensils, classical furniture, purple sand tea sets, offerings from study rooms, inscriptions on ancient books, philatelic products, coins, jewelry and other collectibles.