U.S. Customs Duty Drawback & Refunds: Understanding the Recent Changes in 2023
Speaker: Rossano V Gerald
Speaker Designation: Founder, RVG International Consulting Firm, LLC
Speaker: Rossano V Gerald
Speaker Designation: Founder, RVG International Consulting Firm, LLC
The drawback is the refund of certain duties, internal revenue taxes, and certain fees collected upon the importation of goods and refunded when the merchandise is exported or destroyed. The drawback law ushered in by the Trade Facilitation and Trade Enforcement Act (TFTEA) has become effective, allowing for simpler drawback substitution and a changed statutory timeframe. The new duty drawback law presents the perfect opportunity for your organization to earn more ROI on your supply chain system.
It is time for importers to update import processes and drawback strategies to capture significant cost savings due to new substitute drawbacks available under the TFTEA rules. The CBP provides guidance explaining how drawback claimants can file under the TFTEA amendments and will discuss the extensive opportunities for US-based companies for refunds on imported goods that are then exported. Drawback filing in the Automated Commercial Environment provides drawback claimants with new challenges.
Key highlights of this webinar include:
Dr. Rossano V. Gerald is an Academic Professor and Founder of RVG International Consulting Firm, LLC. He has over thirty years of business experience in strategic management, marketing analysis, and supply chain management; and is also a veteran of the United States Army.
He has worked with small and medium-sized businesses to help improve their business logistic processes through verification of operational and supply chain programs. Also, he has developed management and marketing strategies that were used to improve the efficiency and effectiveness of my client's business operations in this global economy. He earned a Doctor of Business Administration in International Business and Advanced Professional Business Certification in Marketing from Argosy University/Sarasota; Thomas Jefferson School of Law Master of Science of Law Degree (J.S.M.) for International Tax and Finance Services in the Risk Compliance & Management field.
He is also a candidate at the Univ. of Phoenix/ MBA Project Management degree program. He is a member of the Free Trade Alliance, San Antonio Transportation Association, Inc., San Antonio SCORE, TX, Supply Chain Council and Institute of Business Forecasting & Planning, and CATO Institute of Research & Analysis and Academy of Business Research. He is a Certified Supply Chain Manager, and Inventory Planner and Property Forecaster, Certified Consultant for Business Value Analysis and Methodology, Certified Export Leaders of the Free Trade Alliance and Casa of San Antonio, TX; Certified Master Management Consultant and Master Project Manager; and Certified Marketing Analyst and Registered Business Analyst by the International Management Consultant Certification Board (IMCB);Certified CCA ™ Chartered Compliance Analyst AAFM ® American Academy of Financial Management/ AAPM ® American Academy of Project Management.
ChE Chartered Economist (GAFM) GAFM ® Global Academy of Finance & Management ®. He is also a member of the Council of Supply Chain Management Professionals; and an Advisor for the Mu Kappa Tau Marketing of the Honor Society.
