Articles
Customs Alert - First Sale Valuation Congress Acts on Behalf of Importers
By Carl Soller
May 28, 2008
Based upon a flood of comments from both the import community and numerous legislators, Congress enacted a provision as part of the Food Conservation and Energy Act of 2008 (H.R. 2419) that “would halt proceedings” intended to change the current valuation rules to one based upon a different standard. Based upon a statement made by members of Congress there can be no change in the rule at least until after January 1, 2011.
Even after that date substantial consultation would be required to revisit this issue.
Had this Customs Proposal been implemented, it would have cost importers, particularly importers of wearing apparel millions of dollars in additional duties.