Duty drawback refers to duties paid on?
COMMERCE
WAEC 2015
Duty drawback refers to duties paid on?
- A. exported goods produced with local content
- B. re-exported goods previously imported
- C. imported goods for sale locally
- D. locally manufactured goods for sale locally
Correct Answer: B. re-exported goods previously imported
Explanation
Duty drawback: A refund that can be obtained when an import fee has already been paid for a good, but the good is then subsequently exported.
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