Phnom Penh (FN), April 24 - The Ministry of Commerce issued a notice, dated on April 21, 2018 to all the merchants who imported goods into the US market from January 2018 to request a tax refund after the US continued the Generalized System of Preferences (GSP), which provides duty-free treatment to goods of designated beneficiary countries.

“President Donald Trump signed the “Consolidated Appropriations Act, 2018” on March 23, 2018, which in addition to providing full-year federal appropriations through September 30, 2018, extended GSP with retroactivity, for goods entered or withdrawn from warehouse for consumption from January 1, 2018 through December 31, 2020,” according to Official website of the Department of Homeland Security.

Based on the GSP renewed statement, the new law, effective from April 22, 2018, also provides for the retroactive refund of all duties (without interest) to the importer of record (IOR) on GSP-eligible goods entered during the January 1, 2018 through April 21, 2018 lapse period.

All merchants who use the Special Program Indicator (SPI) code can get the return tax back automatically. As a non-SPI code-users, applicants can apply for a refundable tax by submitting their own application form via a website available in the Ministry of Commerce's notice by September 19, 2018.

For more information, visit FTA@dhs.gov.
=FRESH NEWS