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Drawback

Drawback Definition

Any rebate given to the payor which is in the form of a tax or tariff is called a drawback. It is usually given to importers and exporters whose imported goods have been taxed to their own country and exported after they have arrived. Through drawbacks, importers may store their products temporarily in the US without the need of a non-refundable tax.

RELATED TERMS
Exports
Imports
RELATED CATEGORIES
International
Taxes




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