“Drawback” is U.S. Customs program that allows importers to get their duty payments refunded by Customs if they export the same or a similar product. There are lots of permutations and it’s quite a bit of “paperwork” to qualify, but the upside is significant.
Under the recently enacted Trade Facilitation and Trade Enforcement Act (TFTEA), drawback is being simplified and will be effective Feb 24, 2018. The importing community is still waiting for certain Customs regulations on this, including whether distilled spirits will be eligible for “substitution” drawback. Customs has historically denied substitution drawback to distilled spirits.
Continue Reading Potential Drawback Opportunity for Distilled Spirits