• Service: Tax, Global Indirect Tax, International Tax
  • Type: Regulatory update
  • Date: 1/21/2014

EU - New GSP regime effective 1 January 2014 

January 21:  The new Generalized System of Preferences (GSP) regime in the European Union was effective 1 January 2014.

GSP 2014 focuses its preferences on countries described as being “most in need” and that do not benefit from a separate preferential market-access program, such as free trade agreements (with the exception of the least-developed countries).

The new EU GSP consists of three different types of arrangements:

  • General arrangement (duty-free access for non-sensitive originating products)
  • GSP+ arrangement (duty-free access for most of the originating products)
  • EBA arrangement (duty-free access for all originating products, except for arms)

Read a January 2014 report prepared by the KPMG member firm in the Netherlands: Trade & Customs Alert – New EU GSP: Update

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