How does duty drawback work for US importers?

Duty drawback is a refund program that allows U.S. importers to recover duties, taxes, and fees paid on imported goods that are subsequently exported or destroyed. To utilize this program, importers must file a claim with U.S. Customs and Border Protection (CBP) within three years of the original payment. The process involves documenting the importation and subsequent exportation or destruction of the goods, along with maintaining accurate records. Importers can recover up to 99% of the duties paid, making this a valuable opportunity for businesses that frequently import and export goods. To maximize your recovery potential and navigate the complexities of the duty drawback process, consider consulting with a specialist. Contact us for a free assessment to see how much you could recover!