A final rule from the Bureau of Industry and Security (BIS) of the U.S. Commerce Department published in today’s edition of the Federal Register amends the Export Administration Regulations (EAR) by expanding the scope of “license exception support” with respect to Cuba to facilitate, among other objectives, trade and the exchange of information to and from Cuba.
The final rule [PDF 238 KB] also makes “temporary sojourns” of most vessels to Cuba eligible for the license exception for aircraft and vessels. Additionally, the final rule allows for a case-by-case review policy of license applications to export and reexport to Cuba, items that are to allow for civil aviation safety and the safe operation of commercial passenger aircraft. The final rule amends the deemed export and deemed reexport license requirements for releases of technology and source code to Cuban nationals; removes certain unintended restrictions on exports and exports; and makes technical corrections to license exception for certain agricultural products.
© 2016 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.