A refund of the duty collected on goods imported into a country which are later re-exported is called

Assessment: WAEC SSCE - Commerce - 2008 (Objective) Subject: Commerce

Question 1 Report

A refund of the duty collected on goods imported into a country which are later re-exported is called
Answer Details
Customs drawback is the refund of the duty collected on goods imported into a country which are later re-exported. This means that when goods are imported into a country and later re-exported without being used, the duty paid on them can be refunded by the customs authorities. This is known as customs drawback, and it is a way to encourage international trade by reducing the cost of doing business for companies that engage in re-export activities.
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