Italy non-resident importers VAT warehouse changes
From 12 September 2011, the import of goods into an Italian warehouse were determined as zero rated for Italian VAT if a guarantee is provided to cover the imputed VAT. The guarantee shall automatically expire when the goods are removed from the warehouse.
On 4 November 2011, the Italian Customs Agency issued a further guidance note which stated that the guarantees above will not be required if the importer can provide the authorities with a number of documents. These included a certificate issued by the Camera di Commercio proving that the importer has been officially registered for at least one year. Also, a certificate issued by the local tax authorities which are not available to non-resident, foreign traders. The exemption from providing a bank guarantee for Italian VAT was therefore not available to non-resident traders.
On the 1 February 2012 this restriction was lifted. The Customs Agency issued a new guidance note clarifying the requirements for the guarantee exemption, and now allows non-resident importers to apply for the guarantee.