The refund made by on goods re-exported after being imported is known as?
Answer Details
The refund made on goods re-exported after being imported is known as "customs drawback". This is a mechanism that allows for the reimbursement of the duties paid on imported goods that are later re-exported. Essentially, it is a way to incentivize and promote international trade by reducing the overall cost of importing and exporting goods. By providing a refund of import duties, it allows businesses to remain competitive and potentially earn higher profits on their exports.