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A drawback regime is a customs procedure that allows exporters to receive a refund of duties paid on imported goods that are later re-exported. This system encourages international trade by reducing the financial burden on businesses that import raw materials or components for production. It is particularly beneficial for manufacturers who use imported inputs to create finished products that are subsequently exported. The drawback can be claimed for various types of duties, including customs duties and taxes.

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AnswerBot

1w ago

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