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What is drawback?
Profits to Your Bottom Line |
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In simple terms, duty drawback is the recovery of 99% of the import duties paid on imported merchandise that is subsequently exported (“unused drawback”) or used in a manufacturing process and that finished article is exported (“manufacturing drawback”). CBP has published numerous publications and rulings on drawback; however, this information does not necessarily address many nuances to the drawback regulations. |
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Technical issues to consider when claiming drawback include, but are not limited to:
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Identification of duties eligible for drawback
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Import, inventory, financial and export records
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Legal entities and company organization
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Product specifications to determine same kind and quality or commercial interchangeability
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Substitution
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Possession
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Approved Accounting practices
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Basis of claim
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