A further case of deduction of VAT on importations of goods not owned by the importer

Allowed the deduction of VAT paid on the importation of “modified genes” not owned by the importer and destined to clinical trials conducted by third parties which, if successfully concluded, will allow the importer to market the relevant drugs obtained

With the Reply to ruling No. 410, dated 4 August 2022, the Italian tax authorities have once again provided clarifications on the deductibility of VAT on importation of goods not owned by the importer (on this topic, see also our previous Newsalerts dated 27 October 2020 and 2 August 2021).

Source PwC

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