Duty Drawback

Duty Drawback is a refund of customs duties, taxes, and fees paid on imported goods that are later exported or destroyed under customs supervision.

This financial incentive encourages export activities by allowing importers to reclaim duties on goods that are:

1. Re-exported in the same condition.
2. Used in manufacturing exported products.
3. Destroyed under customs supervision.

Claiming duty drawback requires detailed documentation, including import/export declarations and proof of duty payment.

Properly utilizing this program can significantly reduce costs for importers and exporters, but compliance and accurate record-keeping are crucial for approval.

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