In fact, according to the provisions of the tax law, the proceeds from the auction of goods owned by individuals belong to the income from property transfer, and the balance of the income from property transfer after deducting the original value of the property and reasonable expenses is taxable income, and the tax rate of 20% is applicable. However, in the actual collection process, because the auction industry is a relatively new field, some policies are not formulated in place and the specific operations of auction houses are different, so the implementation is not good. It is understood that 1997, State Taxation Administration of The People's Republic of China issued the Notice on the Collection of Individual Income Tax on the Auction Income of Paintings, Calligraphy and Antiques (Guo Shui Fa [1997] 154, hereinafter referred to as 154), which clarified the policy of collecting individual income tax on the auction income of paintings, calligraphy and antiques. So, what changes have been made in the Notice compared with the document 154?
Original works are taxed differently from those purchased. Compared with the document 154, the Notice is more operable.