One of the more interesting services for importers offered at the VTE terminal is the VAT tax warehouse.
VAT tax warehouses are physical locations found throughout the territory of the Italian state at which goods are introduced, stationed, and then withdrawn.
From a fiscal point-of-view, VAT tax warehouses allow – for permitted operations – the VAT to be deducted directly from the final buyer at the same time that the goods have been introduced on the market, rather than through an advance payment like the normal tax settlement procedures.
Domingo Valle, President of International Custom Services: “The VAT tax warehouse offers notable advantages for importers. The most evident would be the possibility to delay the tax settlement. The transactions, in fact, are carried out in a tax suspension scheme. As shippers, we deal with terminal relations on behalf of our clients: we handle the operations required by law under the institute of the VAT tax warehouse and we are the guarantor along with the Italian tax authorities through the payment of a fiduciary policy.”
VTE manages a VAT tax warehouse for goods from both inside and outside the EU territory. The latter, however, in order to be admitted, must already have acquired status as “goods from within the territory” and can thus circulate freely throughout the territory of the member states.
The VAT tax warehouse office at VTE is active Monday to Friday from 8:30 to 13:00 and from 14:00 to 17:00.