In the customs laws, this term denotes an allowance made by the governmentupon the duties due on imported merchandise when the importer, instead ofselling it here, re-exports it; or the refunding of such duties if already paid. This allowanceamounts. In some cases, to the whole of the original duties; in others, to apart only.A drawback is a device resorted to for enabling a commodity affected by taxes to beexported and sold in the foreign market on the same terms as if it had not been taxedat all. It differs in this from a bounty, that the latter enables a commodity to be sold forless than its natural cost, whereas a drawback enables it to be sold exactly at its naturalcost. Downs v. U. S., 113 Fed. 144, 51 C. C. A. 100.
What is DRAWBACK?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- How To Get an EIN Number
- What is a Credit Freeze?
- The 14th Amendment Explained
- What is the Security Exchange Commission?
- Restitution Law – What it is, How to Avoid it, and Tips on Asking for It
- Should I Freeze My Credit?
- Living Will – The Pros & Cons You Need to Know
- What does it mean to be acquitted?
- Forming an LLC in Missouri
- Double Jeopardy Law
- What Is A Police Welfare Check?
- Best Way to Find Someone in Jail for Free
- How to Transfer a Car Title When The Owner Is Deceased
- How To Find A Name & Address Using A License Plate Number
- Best Way to Write a Professional Letter to a Judge
- How To Find An Inmate’s Release Date
- What Can You Do At 18 Legally?
- Signing a Letter on Someone Else’s Behalf
- How Do You Look up License Plate Numbers?
- Why Do Policemen Touch Your Tail Light When They Pull You Over?