Duty Drawback
/ˈduːti ˈdrɔːbæk/
Definitions
- (n.) A customs or tax refund granted to importers or manufacturers when imported goods are subsequently exported or used in the production of exported goods, effectively rebating duties paid.
The company claimed a duty drawback after exporting the finished products that incorporated imported components.
Forms
- duty drawback
- duty drawbacks
Related terms
See also
Commentary
Duty drawback provisions are designed to promote exports and prevent double taxation on goods; precise qualification criteria vary by jurisdiction.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.