CBP Details Coming Drawback Changes in New Newsletter
CBP provided some details on the coming changes to drawback filing as part of the Trade Facilitation and Trade Enforcement Act of 2015 (see 1603010043), in a new newsletter (here). The changes, which will take effect Feb. 24, 2018, were…
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" long-sought over the past decade by both CBP and the trade," CBP said. The law strengthens "the drawback legal framework and CBP’s ability to more accurately and objectively administer drawback," it said. CBP is developing new regulations on the drawback overhaul (see 1606070040), which will also include a one-year grace period that will allow for claims to be filed either through the legacy or updated program. CBP said it plans to provide monthly updates through the newsletter.