CBP issued the following releases on commercial trade and related matters:
Drawback
A duty drawback is a refund by CBP of the duties, taxes, or fees paid on imported goods, which were imposed upon importation as prescribed in 19 U.S.C. 1313(d). More broadly, a drawback also includes the refund or remission of other excise taxes pursuant to other provisions of law.
CBP issued the following releases on commercial trade and related matters:
A bipartisan pair in the Senate is in the early stages of writing a trade facilitation bill, which is intended to build on CBP's 21st Century Customs Framework -- an approach that trade professionals felt was too focused on enforcement, and neglected trade facilitation.
The Commercial Customs Operations Advisory Committee (COAC) for CBP will next meet June 26 remotely and in person in Long Beach, California, CBP said in a notice. Comments are due by June 21.
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The Court of International Trade on May 31 said that a duty drawback claim becomes deemed liquidated after one year if the underlying import entries are also liquidated and final, with finality defined as the end of the 180-day window in which to file a protest with CBP.
A bill introduced by Sen. Bernie Sanders, an independent from Vermont, and Rep. Ilhan Omar, D-Minn., would end duty drawback for petroleum taxes that are dedicated to the Oil Spill Liability Trust Fund and to Superfund. The bill, called the End Polluter Welfare Act, was first introduced a dozen years ago.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
A recent bill from House Ways and Means Committee member Rep. Beth Van Duyne, R-Texas, would change the drawback statute so that items that have a Harmonized Tariff Schedule description beginning with "other" no longer would be ineligible for unused substitution drawback, drawback expert Dave Corn said.
PHILADELPHIA -- The glacial pace of developing electronically submitted export manifests is finally picking up, participants on a CBP export modernization panel said, with Tom Pagano, outbound enforcement policy branch chief, saying "we're really close."