VAT News

Italian Government are Preparing for a No-Deal Brexit

The Italian government are preparing for the worst ahead of the upcoming UK Brexit vote after releasing guidance on the VAT treatment of goods which move within the UK in the case of a no-deal UK Brexit departure on 29th March 2019.

Should a no-deal Brexit occur, the movement of goods and services between the UK and Italy will no longer be treated as a zero-rated intracommunity movement. Imports from the UK into Italy will become subject to strict customs inspections, advanced declaration and possible tariffs for the first time.

Furthermore, exports to the UK will also be subject customs checks, but also will be exempt from Italian VAT. Exports to the UK will also no longer be required to be disclosed within Intrastat filings and reporting, however.

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