Complexities and Considerations for Various Drawback Provisions

The past few years have been extremely challenging for most companies due to higher tariffs, the impacts of COVID, and now challenges with supply chain. A lot of companies are turning to drawback to drive value to their organization by obtaining a refund of duties that were previously paid. As drawback is both a retroactive and prospective tariff recovery program, now is the time to consider developing a new drawback program or expanding and streamlining your existing program to enhance your duty recovery. 

KPMG LLP (KPMG) is pleased to invite you to Part 2 of a three-part duty drawback webcast series. During this webcast, KPMG professionals from our Trade and Customs practice will review different complexities and considerations to keep in mind when developing and maintaining a compliant drawback program while enhancing drawback refunds. The following topics will be covered:  
 

• Brief overview of various drawback provisions
• Impact of drawback law on various drawback provisions
  • First Filed Rule
  • HTS Substitution
    • When applicable?
    • Other, other restrictions
    • Bill of material requirements, manufacturing drawback
    • Unit of Measure / Quantity
  •  Direct ID
  •  Rejected merchandise drawback
  •  Joint and several liability
• Claim modeling to optimize drawback recovery
• Superfund excise tax opportunity
  

Please stay tuned for an invite to our final webcast in this series where we will cover:

• Part 3: Drawback data pitfalls and opportunities (coming September 2022)