Watching the news can really make you wonder about how we will all get through things.
- The cost of fuel is going up…
- The cost of transportation is going up…
- Space on both ships and planes is tight…
- Container shortages…
- Stock shortages…
- Supply chain delays…
But enough bad news! Did you know if your company exports, you are one step closer to finding money?
Duty Drawback is a program that allows companies to reclaim duty on paid goods imported into Canada that have been subsequently exported out of Canada. The Canada Border Services Agency (CBSA) allows for importers to drawback the duty paid on imported goods that are exported from Canada, but many importers and exporters do not take advantage of the program.
Some quick points on the Duty Drawback program…
- Drawback is predictable on exports; if you export, then you are eligible.
- The program is based on matching imported goods to exported goods and claiming duty.
- All submissions must be prepared and filed with the CBSA.
- The CBSA will refund 100% of duty paid.
- Tradewin makes filing drawbacks simple, requiring minimal work from you.
Tradewin Canada is experienced in the Duty Drawback program and files for many importers and exporters. Our experts can help you simplify the program and increase your bottom line through duty mitigation and duty recovery.
Reach out to our experts here.
