Department of the Treasury January 16, 2008 – Federal Register Recent Federal Regulation Documents

The Department of the Treasury's Advisory Committee on the Auditing Profession will convene a meeting on Monday, February 4, 2008, in the Town and Gown Room of the University of Southern California, 665 Exposition Boulevard, Los Angeles, California, beginning at 1:30 p.m. Pacific Time. The meeting will be open to the public.

This document proposes amendments to title 19 of the Code of Federal Regulations, with respect to the requirements applicable to the operation of Class 9 bonded warehouses, which are also known as ``duty- free sales enterprises'' or ``duty-free stores.'' The proposed amendments would extend the blanket withdrawal procedure for Class 9 bonded warehouses to cover vessel supplies under certain circumstances and expand and create a uniform time period for Class 9 proprietors to file an entry, provide written confirmation of certain shortages, overages, and damages, and to pay duties, taxes, and interest on overages and shortages. In addition, the proposed amendments would permit Class 9 warehouses to utilize technological systems more effectively. The proposed changes would facilitate the efficient operation of Class 9 warehouses and also ensure adequate records are maintained for U.S. Customs and Border Protection (``CBP'') trade enforcement purposes.