Italy allows to cease customs procedure if safeguard quotas exhausted

2024-05-28 Market News Europe
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Italy has recently introduced a new customs rule allowing importers to withdraw from imports partially or in whole should safeguard quotas be exhausted at customs clearance.
Traditionally, the opening of every new quarter of the EU steel safeguards system is accompanied by a crowding out in some product categories, leading to quotas filling immediately and importers having to pay duty on a portion of imported volumes. At the moment of the customs clearance, the operators don’t have information about the quota requests for other European countries. It means that importers do not know the final duty they must pay. That leads to confusion and difficulties in planning and cost management. Sometimes, companies, instead of risking missing the quota, prefer to stockpile materials and wait for another quota opening in three months, leading to inefficiencies. Hence, following the request of numerous operators, Italy has decided to test a new rule. Continue Reading? Please click box below!

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