Italy pioneers new import quota procedure
Time:Wed, 17 Apr 2024 08:55:05 +0800
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The Italian Customs and Monopolies Agency has launched an experimental import quota procedure effective April 1, 2024. This procedure granted the authority to reject import operations upon quota depletion, aiming to avoid additional duty payments.
Under the updated method, importers can suspend declarations until the European Commission allocates quotas. If exhausted, importers can opt to partially or fully refuse clearance, pay duties for excess, or store surplus goods at the port. Primarily aiding importers nearing quota exhaustion, notably for hot rolled coil (HRC) from India, this mechanism allows utilization of remaining quotas without extra costs.
