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| Subject:
United States Customs Duties
Category: Business and Money Asked by: jritt3-ga List Price: $50.00 |
Posted:
26 Mar 2003 06:53 PST
Expires: 25 Apr 2003 07:53 PDT Question ID: 181132 |
Which fortune 1000 companies have UNSUCCESSFULLY applied to U. S. Customs for "drawback" of duties paid. A "Drawback" is due when an entity imports something (anything)INTO THE U.S., involves that import in some process (manufacturing, chemical,etc.) and then proceeds to export the new resultant. The drawback is the return of the original duty paid on the importation of the component referred to above. EXAMPLE: Import A (Foreign) + Item B (Domestic) = Item C (Exported). DRAWBACK = The duty paid when Import A entered the U.S. Upon exportation (either by itself or combined with something else) that duty is refundable. | |
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