CBP has informally advised various trade associations that the proposed changes to the Informed Compliance Publication (ICP) on Bona Fide Sales & Sales for Exportation to the United States will be withdrawn.
CBP has indicated that it was not seeking to change policy or the law affecting first sale through the proposed ICP revisions but was instead looking to provide clarity with regard to the documents which could be required during an audit of first sale transactions. Based upon the overwhelmingly negative comments received from the Trade, it is understood that proposed changes do not comport business reality and that the ICP is not the right vehicle to bring clarification to the audit process. A majority of commenters were uncomfortable with the notion of a list being used to identify required documents and it is possible that further discussions will be held with the Trade to clarify the audit requirements.
Thus, for the moment, it appears that there will be no changes to the existing requirements for first sale appraisement. Importers, brokers and other interested parties seeking further information on the first sale duty savings program are encouraged to contact the Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP office.
Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP is a member of the EACCNY.