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First Sale: Alive For Now

In an appearance before the Senate Finance Committee on June 24, Commissioner Basham stated that CBP would not proceed with its proposed reinterpretation of the value law to eliminate so-called first sale valuation. So, that's good. Whether CBP tries to do this again in 2011 is another and open question. In the meantime, CBP will be collecting data to provide to the ITC to do a report on the actual application of first sale valuation.

Here's hoping that the data collection process does not turn into a big deal. Personally, I'd like to see FS as a Special Program Indicator and let everyone move on with their lives.

Full post as published by Customs Law on June 26, 2008 (boomark / email).