This
digital document is an
article from
Strategic Finance,
published by
Institute of
Management Accountants on June 1, 1999. The length of the article is 877 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: An estimated $1.7 billion in Customs-duty refunds go unclaimed each year. These refunds, known as drawbacks, are given when duties are imposed on imported merchandise used to produce items for export. These refunds are mandated by Customs provisions that aim to promote US competitiveness in international trade. All US manufacturers that import merchandise for use in creating exportable products are eligible to claim drawback benefits. To apply for these benefits, an exporter has to submit a drawback proposal to Customs. This proposal should give details of the manufacturer's operations and specify the methods of compliance with drawback regulations. When this proposal is approved, typically for a period of 15 years, it becomes a legitimate drawback contract. Drawbacks can also be claimed for imported merchandise that is returned because it does not meet specifications.
Citation DetailsTitle: Is your firm overlooking drawbacks?(includes related article on how to seek assistance when dealing with Customs)
Author: Sid R. Ewer
Publication:Strategic Finance (Refereed)
Date: June 1, 1999
Publisher: Institute of Management Accountants
Volume: 80
Issue: 12
Page: 25(2)
Distributed by Thomson Gale.
Price:
$5.95
[
Notify me when price goes down.]