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Congress Voids Certain Ad Valorem Duties on Ship Repairs |
June 7, 2005
Previously published by Marine News on March 8, 2005
Trade and Technical Corrections Act of 2004 (the Act), signed into law on December 3, 2004, contains a provision that reverses a final rule, issued by the Bureau of Customs and Border Protection (CBP) in 2001 (Final Rule; 66 Fed. Reg. 16392 (March 26, 2001)), that subjected repairs made to U.S.-flag vessels while on the high seas to declaration, entry, and duty requirements. Simply put, the Act expands the list of items that are exempt from the 50 percent ad valorem duty requirement contained in the Vessel Repair Statute (19 U.S.C. ยง 1466) and, as a result, could possibly save owners and operators of U.S.-flag vessels large sums of money.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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