U.S. Congress renews GSP | KPMG | GLOBAL
close
Share with your friends

U.S. Congress renews Generalized System of Preferences (GSP)

U.S. Congress renews GSP

The U.S. Congress has passed legislation that renews and extends the Generalized System of Preferences (GSP) through 31 December 2020.

1000

Related content

The U.S. Senate passed H.R. 1625 [PDF 3.27 MB], the “omnibus” appropriations bill very early today, 23 March 2018. The House of Representatives passed the bill on 22 March 2018. The bill will be sent to the White House for action by the president.

The GSP expired at the end of 2017, but with this legislation, will be extended through 2020. The legislation includes measures allowing for retroactive application of the GSP for certain liquidations and reliquidations after 31 December 2017, provided that certain notifications are filed with U.S. Customs and Border Protection (CBP) within 180 days after the legislation’s date of enactment.

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

© 2018 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit