In the case of imports made under a consignment stock contract, the VAT becomes payable when the goods are released for free circulation and at the same time the future purchaser (rectius detentore) is granted the right to deduct the tax paid, under certain conditions.
Sources:
Latest Posts in "Italy"
- Commercial Property Conversion to Residential: VAT Deduction Adjustment Required Under Italian Tax Law
- Italian Supreme Court Rules Non-Deductibility of VAT on Non-Existent Transactions for Business Income
- Exclusion of Capital Goods in Pro-Rata VAT Calculation: Recent Interpretations and Implications
- VAT Deduction Rights During Company Liquidation: Recent Clarifications and Legal Interpretations
- Legislative Decree Reforming VAT Deductions for Third Sector, Business Crisis, and Sports
