Update: Generalized System of Preferences (GSP) Renewal
Dear Valued Customer,
The renewal of the Generalized System of Preferences (GSP) will go into effect April 22, 2018. Customs Border Protection (CBP) will begin issuing GSP refunds on qualified goods shortly after the effective date, but will not offer any interest payments. Refund requests must be submitted to your broker prior to September 19, 2018.
Duty payments will terminate on April 22nd, but until then, importers should continue to flag GSP-eligible importations as Special Program Indicator (SPI) "A" and expect to pay normal duty rates. Entry summaries submitted during the lapse period with a special program indicator "A" will be eligible for refund.
Entry summaries submitted by importers during the lapse period wherein a special program indicator "A" was not transmitted are still eligible to submit a refund request, known as a post-importation GSP claim. According to CBP; letters, Post Summary Corrections (PSC) or Protests are all acceptable ways to submit duty refund requests.
Should you have any questions regarding this update, please contact your brokerage representative at OEC Group.
The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement.