Each year, over $2 billion in duty drawback recoveries go unclaimed. Ensure you capitalize on these opportunities to recover your expenses efficiently.
What is Duty Drawback?
A duty drawback is a refund offered by U.S. Customs for duties paid on imported goods that are later exported. This process is designed to encourage international trade by reducing the cost burden on businesses involved in import-export activities.
By claiming a duty drawback, companies can recover a significant portion of their expenses on goods that don’t remain in the U.S. market.
Eligible items for duty drawback upon export include:
Imported goods that remained unused in the U.S.
Items used domestically for manufacturing other products.
Goods that are damaged or did not meet quality standards.
Fuel utilized in flights departing from the U.S. to international locations.
Merchandise exported to neighboring countries like Canada or Mexico.
Imported raw materials used in the manufacturing of products that are later exported
Reclaim Your Duty Payments
Duty Drawback allows businesses to recover a significant portion of the duties, taxes, and fees paid on imported goods that are exported or destroyed.
Be More Competitive
By recovering duties through Duty Drawback, businesses can lower their overall product costs.
Create New Budgets
The reimbursement of duties and taxes through Duty Drawback services improves cash flow for businesses.