Duty Drawback – What Importers and Exporters Should Know
Dedola Global Logistics
FEBRUARY 26, 2021
Duty drawback refers to the refund of specific duties, internal revenue taxes, and fees paid on the value of goods imported into the United States. Per the US Customs and Border Protection (CBP) these refunds are only paid if the imported goods are either re-exported or destroyed. As one of a limited number of programs allowed by the World Trade Organization, duty drawbacks give US importers the ability to reclaim significant costs associated with imported goods under certain circumstances.
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