08 January 2018 Italian 2018 Budget Law introduces new rules for energy products in tax warehouses and at registered consignees Italy published the Budget Law of 2018 (the Law) in the Italian Official Journal on December 29, 2017, and, among other measures, the Law introduces the following new provisions regarding certain energy products held in tax warehouses or at registered consignees: (i) The methods of payment of Value Added Tax (VAT) in the case of certain energy products released for consumption from a tax warehouse (i.e., a warehouse authorized for the excise duty suspension regime) or extracted from a warehouse of a registered consignee; and (ii) The requirement of an authorization from the Customs Authority in order to store energy products in a third-party tax warehouse or a warehouse of a registered consignee. Document ID: 2018-0038 |