We Don't Only Brew up Refunds in Drawback...

Read More

Topics: Duty Drawback

My Favorite Kind of Duty Drawback

snugglecat

What do treadmills, party decorations, stereo equipment, and fun, sleeved blankets have in common? 

These are all products that have appeared on duty drawback claims that have been filed with U.S. Customs. Many everyday products that are sold in the U.S. are also sold in other countries. Items that are imported duty-paid into the U.S. prior to moving to their final destination outside the U.S. are eligible for a duty refund. 

If a company wants to import 6,000 fun, sleeved blankets in November the company must pay U.S. duty and fees on all 6,000 blankets. If the company has the intention of only selling 1,000 in the U.S. for holiday family pictures and chooses to send 5,000 to Canada for the start of indoor curling season, the company can get a refund of 99% of the duties and fees paid on the 5,000 blankets exported to Canada to warm those stylish curling fans. 

Read More

Topics: Best Practices, Duty Drawback

Duty Drawback: Finding Cash in the Trash

drawback-01

As seasons change, so does the make-up of your product line. If you are an apparel company, last season’s shorts and tee shirts can turn into next season's flannel underwear and parkas. Maybe you work for a technology company and the cases you make for last season’s hot phone have become less in demand since the new model came out.

So, what happens to all that unsold merchandise? Do you recycle it? Do you throw it in the dumpster in the warehouse? Does it get used for kindling at your company’s annual fall cookout? Bottom line, are you recovering any import duty on that unused merchandise that you are destroying? There’s an ‘app’ for that. Apply for Duty Drawback privileges on destroyed merchandise.

Read More

Topics: Duty Drawback

New Frontiers: Duty Drawback in Space?

04The UN Convention on Registration of Objects Launched into Outer Space defines a "space object" to include component parts of a space object as well as its launch vehicle and parts thereof.  All well and good for keeping track of things floating around in the stratosphere, but what if you made your space object here in the US using imported (read “duty-paid”) components.  That space object lifts off, and there go all those dollars in duty payments.  Can you get any of that back?

Read More

Topics: Duty Drawback

Duty Drawback: Looking Beyond the Obvious


Savings-SignThe US government offers businesses the opportunity to recoup the duties they pay on imported goods that are taxed, subsequently exported, and taxed again. An astonishing estimate of $2.5 billion of those monies is unclaimed by businesses eligible for duty drawback.

The basics of a drawback program may appear straightforward, but the complexities of drawback reveal the true potential for significant duty recovery. It is worth taking the time to look when the payback has so much potential.

Read More

Topics: Duty Drawback