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Superfund Excise Tax - Duty Drawback Services

Superfund Excise Tax is coming on July 1, 2022, and DHL Drawback Services is ready…

While it’s been said “the only thing constant is change”; the Superfund Excise Tax is business as usual for DHL Drawback Services.

As one of the most established drawback service providers, DHL Drawback Services came on line in 1988 and was a front runner in the industry of recovering the superfund excise tax thru the drawback recovery of the Superfund Excise Tax, until the tax’s suspension in 1995.

Drawback is the recovery of duty, fees, and taxes.  The Superfund Excise Tax falls into the scope of drawback and can be a significant revenue recovery stream for many petroleum, petrochemical, and other specialty businesses.

The Infrastructure Investment and Jobs Act (section 80207) reinstates The Superfund Excise Tax starting on July 1, 2022.  Formally named the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), this excise tax is a revitalization of the 1980 law which was enforced until 1995.

The Superfund Tax is targeting crude oil, petrochemical feedstocks, and certain highly toxic and/or high-volume inorganic material including heavy metals, halogens, acids, bases, and ammonia.  The Superfund is estimated to generate a total of $14.4 Billion in taxes.  It utilizes two main lists which were defined during the original 15-year period:

  • 42 taxable chemicals
  • 150+ taxable substances

DHL Drawback has the history and experience to support ALL your drawback needs.  We are actively engaged with several governmental agencies to align our processes to meet the subtle changes of this reinstated tax program.  Having the enabling documents and work history, we will service this new additional drawback opportunity, maximizing your returns while being fully compliant.

If you have any questions or would like to talk, please let us know and we will be glad to connect.

 

 

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Click here for more information on the drawback and trade communities.

Duty Drawback Services

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Drawback refers to the refund of duties paid on imported merchandise when the merchandise is subsequently exported, either in an “unused” state or after undergoing a manufacturing process.

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