ABOUT DRAWBACKWhat is drawbackDrawback is a refund of certain duties paid on imported merchandise when the merchandise is subsequently exported either unused or having undergone a manufacturing process. Who is eligible for drawback?Does your company:
If you answered yes to any of the above, you are a candidate for drawback. What are the benefits of drawback?A duty drawback program allows U.S. companies to take advantage of economical foreign materials, and uses U.S. labor to produce products for export, creating jobs, increasing company revenue, improving cash flow, and enhancing global competitiveness. Can drawback be claimed on past exports?Yes. A company can retroactively claim drawback on exports shipped in the past 3 years. |
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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