customs drawback


customs drawback
customs drawback customs drawback drawback

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customs drawback UK US noun [C or U]
TAX, COMMERCE tax paid on imported materials that is paid back when goods made with those materials are exported again, or the document relating to this
See also DUTY DRAWBACK(Cf. ↑duty drawback)

Financial and business terms. 2012.

Look at other dictionaries:

  • Customs — Cus‧toms [ˈkʌstəmz] also customs noun [uncountable] ORGANIZATIONS 1. the government department responsible for collecting the tax on goods that have been brought into the country and making sure that illegal goods are not imported or exported: •… …   Financial and business terms

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  • Drawback — Draw back , n. 1. A loss of advantage, or deduction from profit, value, success, etc.; a discouragement or hindrance; objectionable feature. [1913 Webster] The avarice of Henry VII . . . . must be deemed a drawback from the wisdom ascribed to him …   The Collaborative International Dictionary of English

  • Customs Modernization Act — The Customs Modernization Act (Pub.L. 103 182, 107 Stat. 2057, December 8, 1993), formally Title VI of the North American Free Trade Agreement Implementation Act, commonly known as the Mod Act , amended the Tariff Act of 1930 and… …   Wikipedia

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  • drawback — The refund of import duty by the Customs and Excise when imported goods are re exported. Payment of the import duty and claiming the drawback can be avoided if the goods are stored in a bonded warehouse immediately after unloading from the… …   Accounting dictionary

  • drawback — The refund of import duty by the Customs and Excise when imported goods are re exported. Payment of the import duty and claiming the drawback can be avoided if the goods are stored in a bonded warehouse immediately after unloading from the… …   Big dictionary of business and management

  • drawback —  Repayment of a customs duty when goods are exported again …   American business jargon