NCBFAA Advises Protest Filings for Entries Eligible for GSP
Importers and brokers should take steps to try and maintain rights for refunds under the Generalized System of Preferences (GSP), as GSP-eligible entries have started to liquidate as entered, with duty paid, said the National Customs Brokers & Forwarders Association of America in a note to members. "Faced with the liquidation of GSP eligible entries, importers (and their brokers) wishing to preserve their rights to potential refunds should consider filing protests against the liquidation of these GSP eligible entries and asking CBP to suspend action on the protest pending the passage of legislation re-authorizing GSP benefits." The trade program expired at the end of July last year.
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Any renewal for GSP remains up in the air, it said. "There is no indication that Congress is close to passing legislation that would reinstate the program, although it is generally assumed that the program will eventually be renewed," said the association. "The question is 'when' and will Congress include language that provides for the refund of duties collected while the program has lapsed. Further, will such renewal legislation enable CBP to refund duties on GSP eligible entries where the liquidation has become final? The answers to these questions are, at this time, unknown."