Featured Articles

Holiday Notice – Worldwide

Last Updated: Apr 24 2018
Offices in several countries around the world will be closed on Tuesday, May 1, 2018, for Labor Day/International Worker’s Day...

Strike at Canadian Pacific Railways Avoided For Now

Last Updated: Apr 23 2018
Canadian Pacific Railway Limited (CP) advises that an agreement has been reached with the Teamsters Canada Rail Conference-Train & Engine (TCRC) and the International Brotherhood of Electrical Workers (IBEW) that avoids the potential work stoppage...

Holiday Notice - Japan

Last Updated: Apr 19 2018
Offices in Japan will be closed for National Holidays on April 28-30, 2018 and May 3-6, 2018. Many offices will also be closed on May 1 and 2 as they extend time-off into a long holiday.

Customs Strike in Brazil

Last Updated: Apr 19 2018
An ongoing strike by Brazilian Customs workers over health benefits is impacting import and export shipments to and from Brazil...

Asia to US Rate Development

Last Updated: Apr 18 2018
Please find below updates to the following items: Peak Season Surcharge 04/15/18 (# 58-59), General Rate Increase Filed 04/15/18 (# 133-01), General Rate Increase Filed 05/15/18 (# 135)...

PierPass to Replace OffPeak with Flat Container Fee

Last Updated: Apr 16 2018
PierPass is replacing the OffPeak program, in place since 2005 to encourage trucks to move containerized cargo at night at the Ports of Los Angeles and Long Beach and to fund nighttime operations at the 12 marine terminals in the port with a flat fee...

US Ports - Labor Contracts

Last Updated: Apr 16 2018
The International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) scheduled meetings for June 5-7 for further contract discussions....

Holiday Notice - Netherlands

Last Updated: Apr 16 2018
Offices in The Netherlands will be closed on April 27, 2018 in observation of King’s Day.

“Import Compliance -- Basics of Importing” Seminar - Knoxville

Last Updated: Apr 16 2018
When: Tuesday, May 15th, 2018. Where: Hilton Knoxville Airport, Leconte Room, 2001 Alcoa Highway, Alcoa, TN 37701 Time: 8:30 am to 4:00 pm. Cost: $195.00 ... Additional participants from the same company are $165 each...

India: Mandatory Declaration of GSTIN, IEC and e-mail address of Importer to be included in the Bill of Lading obtained by Shipper

Last Updated: Mar 26 2018
Please be advised that the Commissioner of Customs, India has issued a public notification no. 33/2018 dated 7 March 2018, which mandates that with effect from 1 April 2018, importers are required to ensure the following basic details...

Ocean Freight Market Faces Record Deliveries Of Ultra-Large Containerships

Last Updated: Jan 15 2018
Although some carriers deferred deliveries of ultra-large containerships (ULCs) this year, 2018 will see a record number of these vessels being added to the worldwide container fleet...

For more information, Contact Us.

Generalized System of Preferences (GSP) Due to Expire on December 31, 2017

December 21, 2017   |   Compliance

Subscribe To Our Article Mail List

Barring Congressional action, the Generalized System of Preferences (GSP), special program indicator (SPI) “A,” “A+” and “A*” will expire for goods entered or withdrawn from warehouse after midnight, December 31, 2017. The Generalized System of Preferences (GSP) provides duty-free treatment to goods of designated beneficiary countries. The program was authorized by the Trade Act of 1974 to promote economic growth in the developing countries and was implemented on January 1, 1976.

 

The GSP periodically expires and must be renewed by Congress to remain in effect. As announced by Customs and Border Protection, the 2015 GSP reauthorization (H.R. 1295) will expire on December 31, 2017. All previous GSP renewals that have taken effect after a lapse have included a retroactive clause providing refunds to importers of eligible goods imported during the lapse period.

 

In the event of a lapse and until further notice, importers are strongly encouraged to continue to flag GSP-eligible importations with the SPI “A,” even as they pay normal trade relations (column 1) duty rates on otherwise GSP-eligible importations. Please note that Importers may not file SPI "A" without duties. V. Alexander & Co., Inc. will continue to flag GSP eligible entries with the SPI indicator.

 

CBP is working to have programming in place that, in the event that GSP is renewed with a retroactive refund clause, will allow CBP to automate the duty refund process. The full GSP message from CBP can be viewed here.

 

If you have any questions, please contact your account team for guidance.




Article Source
Customs and Border Protection

Response Party: Melanie McCoy
Send Questions/Comments Regarding This Article