New Duty Drawback Refund Opportunities Abound under the Trade Facilitation and Trade Enforcement Act

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Jan 04, 2017

Overview

The enactment on February 24, 2016 of the Trade Facilitation and Trade Enforcement Act of 2015 (Trade Act) presents enhanced drawback claim opportunities. The two most significant changes that provide opportunity for increased drawback refunds are (1) the change to substitution at the eight-digit Harmonized Tariff Schedule (HTS) code and (2) the increased statute of limitation of 5 years from importation. Exporters are permitted to file these claims beginning February 25, 2018, but the claims may cover exports from February 24, 2013.  While claims cannot be filed until February 24, 2018, companies should begin planning and strategizing now.

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Anthony Tennariello

Anthony Tennariello

Customs and International Trade Co-leader, PwC US

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