Ascent Global Logistics Blog

Ascent__mount_icon-1.png

Getting Your Money Back Is Common "Cents," Right?

Posted by Ascent Global Logistics on Oct 9, 2018 8:00:00 AM

When is the last time you found a few random quarters lying around your house? Was it last week? Last month? Last year? One can only image how satisfying it was to find extra change lying around. Ultimately, that day was probably a very good day for you…

Help Me Find My Spare Change

Now instead of finding a few quarters lying around, imagine if you found several hundred thousand dollars that you could reinvest into your business. With Ascent’s Duty Drawback solutions, you could gain back more than a few quarters. Here is how you can earn back money that you already spent:

What Is Duty Drawback?

Duty drawback is the refund or remission, in whole or in part, of a customs duty, fee or internal revenue tax which was imposed on imported merchandise. Each year, billions of dollars of revenue are lost because people do not know that they are entitled to claim some of this money back.

How Can Ascent Help Me Claim Money For My Business?

Ascent’s Duty Drawback solution is two-fold. First, our team of compliance experts evaluates your company’s drawback potential to help you uncover all your drawback opportunities while guiding you through the drawback application process as well as working with you on your record keeping requirements. We then act as a liaison between your business and US Customs and Border Protection (CBP) to get your duty drawback application approved. 

Second, Ascent assists in the implementation of your import/export data gathering, so our IT team can then match key data sets in the creation of your drawback claims. We also assist in any reviews or audits by CBP on your drawback claims. 

Ultimately, claimants can recover up to 99 percent of duties, taxes and fees paid on qualifying import articles that were subsequently exported, destroyed under CBP supervision or used in the production of merchandise for export.

How Can I Get My Money Back Right Now?

If you are looking to claim duty drawback savings, please contact us or reach out to your Ascent Global Logistics representative directly. Our team will be glad to assist you in uncovering your duty drawback.

Topics: International Freight Forwarding, Customs Duties, Importing

Helping You Reach New Heights in Logistics

Our Focus

We are focused on innovation, continuous education, custom solutions and highly individualized service.

Our Culture

We are your partners. Our team is committed to supporting you during every step of your journey to logistics success.

Our Mission

We are driven to be your go-to logistics team. Together we will optimize your logistics performance to accelerate growth.

Subscribe to Email Updates

Recent Posts