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New regulation on quota allocation in Italy

On April 1st, during the new quota period, Italy's Customs and Monopoly Authority implemented solutions that are currently under trial to allow more flexibility in steel imports.

New regulation on quota allocation in Italy

Previously, quotas were allocated to companies a few days after the import request was notified to customs and often the quota tonnage was exceeded, resulting in imports being subject to duties of up to 25%.

As many market players complained about this allocation of quota tonnage, the agency decided to test new procedures. Now, importers will be able to choose between two options once the quota tonnage has been set. They can either clear only part of the order through customs and store the rest at the port, or they can cancel their import requests.

These new procedures are intended to give companies more flexibility in importing steel. This step is seen as a solution for exceeding the quota tonnage and reducing the tax burden.

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