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Italy Free Trade Zones/Warehouses

PostPosted: Mon Nov 17, 2008 12:32 am
by bridgat
Free Trade Zones/ Warehouses

This following describes the value of using free trade zones or bonded warehouses when exporting to Italy.

Goods of foreign origin may be brought in to Italy without payment of taxes or duties, as long as the material is to be used in the production or assembly of a product that will be exported. The advantage of using a free trade zone or a bonded warehouse is having an European base of supply to assure customers prompt delivery and service, ability to maintain inventory at low cost, and a minimum of custom’s paperwork.

In Free-trade zones exporters are able to:

1) defer duties and taxes for 180 days from the time that the goods leave the free-trade zone to enter another EU country; 2) transform goods free of any customs restraints; and 3) obtain exemption from any duties on products coming from a third country.

The free-trade zone law also allows a company, of any nationality, to employ workers of the same nationality, under that country's labor laws and social security.
There are two free trade zones in Italy located in Trieste and Venice.

Italy also has numerous general warehouses that are located throughout Italy in all the port areas and cities. There are no limitations as to the type or origin of merchandise that can be stored in free trade zones, bonded or customs warehouses. The time limit for such storage is 5 years. Merchandise that deteriorates while in storage can be destroyed without the payment of a duty.

For more information contact Trade Information Center at 1 800 USA TRAD(e)