Drawback

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Drawback

A tax or duty rebate on imported goods that are exported at a later date.
References in periodicals archive ?
5 percent more in the kerb market to buy foreign exchange in order to make payments to the State Bank but gain in terms of duty drawbacks by about 12.
The above estimates of export overinvoicing are further confirmed from unpublished estimates of the Revenue Division on amounts deducted as overclaimed for duty drawbacks (see Table 2).
6) To this rate of duty drawback, one can add the effect of higher concessional export finance obtained through export overinvoicing, and that of rebate earned on account of income tax.
This argument can be supported with the evidence of significant differences between the duty drawback rate and the premium on the kerb market foreign exchange rate, which turned out to be 8 percent.
a) Increase inspection and examine all export products subject to specific duty drawback rates.
This will protect exporters from the occasional arbitrary downward adjustments of export prices by the DDS administration and prevent the overinvoicing of exports to benefit from duty drawback.
An exporter is tempted to overinvoice exports (1) if (say) the duty drawback (2) rate is higher than the premium on foreign currency that he has to purchase from the kerb market to meet the export-earning surrender requirement of the State Bank.
The validity of SRO 260 of 2002 meant for duty drawback on polyester staple fibre on deemed import basis is being extended for one year.
15 billion was repaid as sales tax refund as well as customs duty drawback in excess of the amounts refunded in the preceding year.