Italy consignment call-off stock VAT
Foreign entities maintaining stocks of goods in Italy when they have no local permanent establishment (local company, staff, offices etc.) may have to register for Italian VAT to record and report the arrivals/import of goods into Italy and subsequent sale.
Italian VAT stock simplification
For EU VAT compliance purposes, there are two types of stock regimes. Below is a summary of how they are applied in Italy:
Italian Call Off Stock
Where goods are held under the full control of single Italian customer on a sale or return (contratti estimator - where legal title does not pass till the goods are retrieved by the customer) there is a simplification exemption which means there is no requirement to register the foreign company for Italian VAT.
The customer is deemed to have made an intra-community supply when they withdraw the goods. Both parties must complete a special stock agreement to support this VAT arrangement. Also, the goods must be transferred legally to the consignee within one year.
Note, if the goods are coming from outside the EU, they are an import (as opposed to an intra-community supply), and a registration may be required on this basis alone.
Latest Italian news
January 25, 2019
The European Commission (EC) has proposed switching from unanimous to majority voting on EU VAT and other tax policies. The aim is to progress fiscal reforms which face immovable opposition from just a limited number of member states.
January 18, 2019
Italy has confirmed details of its new VAT filing, the Esterometro. The Esterometro reports cross-border VAT transactions not recorded within the extended live invoice reporting system, Sistema di Interscambio (SdI).
January 09, 2019
The EU VAT Directive has been updated from 1 January 2019 to introduce a voluntary generalised reverse charge measure on domestic transactions in member states.
- Italian VAT registration
- Italian VAT returns
- Italian VAT rates and VAT compliance
- Italian VAT invoice requirements
- Italian VAT reverse charge
- Italy consignment call-off stock VAT
- Italian VAT recovery
- Italian intrastat
- Italian EC sales lists (ESL)
- Italian Spesometro Declaration
- Italian Esterometro declaration
- Italian SdI real-time e-invoices
- Czech Republic
- United Kingdom