Comments on Proposed Change to First-Sale Rule Posted
The comments submitted by the public on U.S. Customs and Border Protection's (CBP) proposed change to the "first-sale" rule have been posted on the Regulations.gov website. The controversial proposal generated a great deal of interest and CBP received more than 140 comments by importers, trade associations, law firms and members of Congress.
Under CBP's proposal issued on January 24, 2008, in a transaction involving a series of sales, the price actually paid or payable for the imported goods when sold for exportation to the U.S. would be changed to the price paid in the last sale occurring prior to the introduction of the goods into the U.S., instead of the first (or earlier) sale. As a result, the entered value for duty assessment purposes would be determined on the basis of the price paid by the buyer in the U.S. (the last sale), rather than the first sale.
CBP's proposal has generated a great deal of criticism by U.S. importers and retailers since this change in CBP's long-standing policy will increase the duties paid on U.S. imports.
Labels: CBP, First Sale Rule
|posted by Douglas N. Jacobson| Permalink 
