Valuation Articles

First Sale Removed from 2016?

First Sale Removed from 2016?

23 January 2014

First Sale planning can reduce the customs value. Its application legitimately reduces customs duties on goods sourced through intermediaries and has been accepted by the main commercial blocks of the world – the EU, US & Japan.

The EU Commission has now circulated initial drafts of the Delegated and Implementing Acts which seek to remove the ability to use first sale by requiring the importer to use “the transaction occurring immediately before the goods are declared for free circulation”.

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