World Express Inc. has been working with U.S. Customs for over 40 years. Our experience with customs rules and regulations provides us with expertise in the area of Duty Drawback. Automated since 1978 , and one of the early holders of a National Permit, this enables World Express to provide Drawback in a efficient, effective automated manner, utilizing cutting edge technology.
Brief Description of Duty Drawback
Duty Drawback is the U.S. Law and a Customs Regulation which provides refunds on imported items in certain circumstances when those items are exported or destroyed.
The complexity of the Drawback claim process couple with the penalties for improper claims discourages eligible firms from applying.
U.S. Customs estimates that over $3 billion in import duties are eligible for Drawback. These funds are considered “FOUND MONEY’, not income.
Duty Drawback entitles the claimant to the following:
99% of Import Duties and 100% of Internal Revenue taxes are returned to the Qualifying Claimant.
- 78% of Drawback goes unclaimed
- Drawback is found money, and our Drawback Experts are ready to claim for Clients.
Purpose of Drawback
Drawback allows American industry to compete more favorably in foreign markets by eliminating certain import-related expenses from the cost of doing business.
Types of Drawback
- Unused Merchandise
- Rejected Merchandise
- Packaging Material
Manufacturing drawback authorizes refunds on imported merchandise if:
Documentary rights (Audit Trail) are established.
It is made into other items (using the same or “substituted” domestic merchandise of the same kind or quality used in production by the same person.
Manufacture or production changes the articles’ particular use.
It is exported within 5 years of import entry.
Drawback claim is filed within 3 years of exportation.
The drawback policy stimulates foreign commerce while assisting American industry.
It would not be uncommon for a medium-sized U.S. firm to be eligible for upward of $500,000 in drawback refunds.
IF YOU FEEL THAT YOUR FIRM MAY BE INTERESTED KNOWING MORE ABOUT DUTY DRAWBACK ,AND WHETER YOUR FIRM MAY QUALIFY FOR DUTY DRAWBACK, PLEASE SEND US AN E-MAIL TO email@example.com
As a service to High and Heavy Lift Cargo, Partial and Full Charter Cargo, WORLD EXPRESS INC. has included a link below to some very important government agencies: