TITLE XII

SPECIAL SCHEMES
CHAPTER 4

Special arrangements for second-hand goods, works of art, collectors' items and antiques
Section 2

Special arrangements for taxable dealers
Subsection 1

Margin scheme
Article 316
1
Member States shall grant taxable dealers the right to opt for application of the margin scheme to the following transactions:
a
the supply of works of art, collectors' items or antiques, which the taxable dealer has imported himself;
b
the supply of works of art supplied to the taxable dealer by their creators or their successors in title;
c
the supply of works of art supplied to the taxable dealer by a taxable person other than a taxable dealer where the reduced rate has been applied to that supply pursuant to Article 103.
2
Member States shall lay down the detailed rules for exercise of the option provided for in paragraph 1, which shall in any event cover a period of at least two calendar years.