NBAA’s Tax Committee and regulatory issues advisory group have jointly created a new, members-only resource on exporting aircraft from the U.S. Dubbed the “Guide on Exporting Aircraft from the United States,” NBAA senior director of public policy and advocacy Scott O’Brien said the document includes detailed scenarios that reflect how business aircraft transactions occur, providing clear direction to the industry.
“The engagement of regulators at the Department of Commerce and U.S. Census Bureau, with NBAA and industry partners, is an instance of business aviation coming together to positively resolve a challenging regulatory issue,” said O’Brien.
NBAA’s guidance provides background information on export requirements and detailed information regarding Electronic Export Information (EEI) filings, “a significant source of confusion.” To provide more clarity on EEI filings, NBAA engaged the Census Bureau and Bureau of Industry and Security to review specific business aircraft scenarios. This resulted in improved guidance on which party is responsible for filing the EEI, which includes details such as the parties involved in the transaction, the aircraft’s export classification (temporary or permanent), and its value.
“With exports of general aviation aircraft, engines, and parts reaching more than $130 billion annually, it is crucial that our industry have detailed best practices, guidance, and scenarios on requirements,” concluded O’Brien.