Duty Refund System: Who Qualifies and What You Get
Learn how businesses can claim back customs duties paid on imported raw materials that are later re-exported.
The Duty Refund System allows businesses to reclaim the customs duties they paid when importing raw materials, provided those materials are eventually sent out of the country again.
Who it's for
This scheme is designed for businesses that import goods to use as raw materials and then re-export those finished products to international markets.
What you get
You can receive a refund of the customs duties you previously paid on the raw materials used in your production process.
What it costs you
To successfully claim your money, you must maintain and provide detailed inventory records that track your materials from the moment they arrive until they are exported.
The catch to know
There is a strict time limit on these claims; you must submit your request within two years of the original import date.
How to apply
- Maintain precise records of all imported inventory and their associated duty payments.
- Ensure the materials are used in goods that are officially re-exported.
- Submit your refund claim to the relevant customs authorities.
- Check the official customs portal for specific filing requirements and current procedures.