NEW DUTY DRAWBACK LAW
New Duty Drawback Law, The Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA), is the biggest expansion of the duty drawback law in our nation’s history.
The duty drawback law provides opportunities in nearly every segment of the U.S. economy.
The new duty-drawback law is the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA), which was enacted on February 24, 2016, when the U.S. president signed Public Law 114-125. This new law marks the successful completion of a nearly 10-year effort by Charter Brokerage, along with other members of the trade community and U.S. Customs, to enact the most sweeping enhancement and expansion of the duty-drawback law in our nation’s history.
As one of the original architects of the eight-digit substitution drawback for petroleum products and their derivatives, Charter Brokeragehas been at the forefront of the effort to expand this approach to all U.S. industries. Since Charter has single-handedly filed almost every historic eight-digit duty drawback, Charter’s drawback professionals are experts who have more experience than any other eight-digit drawback services provider.
In nearly every segment of the U.S. economy, TFTEA offers extensive opportunities for refunds on imported goods that are later exported.
Maximizing the new law.
Charter Brokerage’s drawback experts unlock the value of the new law for their clients. Our company’s widespread professional background includes the following:
Are you an importer, exporter or manufacturer?
If you are an importer (or buy from an importer), an exporter (or sell to an exporter) or a manufacturer, the new law TFTEA provides opportunities for savings. If you are interested in understanding how to capture these new financial savings in the context of this new duty drawback rule, please contact Charter’s Duty Drawback experts.