General System of Preference (GSP) Changes

25 February 2013

The new GSP arrangements include a clause to exclude countries from benefiting from preferential trade arrangements where they are classified by the World Bank as high or upper-middle income countries for three consecutive years.

Iran and Azerbaijan have been classified as such for 2010, 2011 and 2012 and are therefore removed from benefitting.

Companies making material savings under GSP should keep up to date with the World Bank’s categorisation of countries.  The three year requirement should provide businesses with a sufficient degree of certainty in sourcing arrangements.

Browse Articles

By Category
Anti Dumping Classification Duty Relief General Origin Valuation
By Tag
By Date
2016 2015 2014 2013 2012 2011 2010 2009

Mailing List

To stay abreast of important news and announcements, join our monthly mailing list.


About Us

We established ITS back in 2001 on the principle of delivering clear and measurable value to the highest professional standards, something that I feel passionately about to this day.

Find out more

What We Do

We understand that you are having to do more with less resulting in long to-do lists, urgent deadlines and a growing pile of projects which could add value if you only had the time.

Find out more

Latest News

From the four building blocks (Origin, Classification, Valuation and Duty Reliefs) to Senior Accounting Officers and their responsibilities and the introduction of AEO.

Latest News