GSP REFUND DEADLINE LOOMS
Importers have until June 14 to request refunds for import duties paid during the expiration period of the Generalized System of Preferences program.
GSP, which expired June 30, 1999 and was renewed in December, gives importers duty-free status on certain goods from developing countries. The program helps developing countries sell their products more competitively in the U.S. market.
Since the reauthorization of GSP was retroactive, duties paid on GSP-eligible goods are recoverable by importers.
Customs has automatically issued refund checks on those GSP shipments marked in the agency’s computer system by an “A” indicator on importers’ entry summaries.
Importers that did not use the “A” indicator in their entry summaries should review their import records for potential GSP refunds.
