U.S. CUSTOMS AMENDS DRAWBACK REGULATIONS

U.S. CUSTOMS AMENDS DRAWBACK REGULATIONS

   U.S. Customs has amended its drawback regulations to conform to changes introduced by the 1999 Miscellaneous Trade and Technical Corrections Act.

   A drawback is a refund of customs duties paid on imported materials that are exported or used in the manufacture of exported articles. With documented proof, exporters can receive refunds from Customs of up to 99 percent on duties paid.

   The changes pertain to drawback on packaging material and substitution of finished petroleum derivatives. There’s also a minor clarification to the general manufacturing drawback rules for piece goods and woven piece goods that are listed in an appendix in Customs drawback rules.

   For more information about the amendments, access online: http://frwebgate1.access.gpo.gov/cgi-bin/waisgate.cgi?WAISdocID=29593410368+1+0+0&WAISaction=retrieve.