- The Italian Supreme Court ruled that the VAT margin scheme does not apply to used mobile phones refurbished in China and imported into the EU under customs regime 42.
- Regime 42 allows immediate release for free circulation of goods imported from non-EU countries, deferring VAT payment until consumption in Italy.
- This regime simplifies customs procedures and provides liquidity savings but does not change the purchase conditions or transform the transaction into an intra-EU operation.
- The VAT margin scheme requires the used goods to be purchased from a private individual within the EU, which is not the case here as the goods come from a non-EU country.
- The margin scheme is an exception to the normal VAT regime and must be interpreted and applied strictly.
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Italy"
- Faster VAT Collection: 2026 Budget Law Introduces Automated Assessment for Omitted Declarations
- New 2026 VAT Forms Approved: Changes to Deduction Adjustment Calculation Included
- Approval of 2026 VAT Return Forms and Instructions for 2025 Tax Year Submission
- Foundry Services for Commissioned Artworks Subject to 22% VAT, Not 5% Reduced Rate
- Applicable VAT Rate for Art Foundry Services: 5% or 22% for Commissioned Contemporary Artworks?
