USCBP Publishes It’s New Drawback Regulations Modernized Drawback
CBP’s new drawback regulations issued pursuant to TFTEA became effective on December 17, 2018.
These regulations establish new processes for drawback as follows:
- Liberalizes the merchandise substitution standard
- Simplifies recordkeeping requirements
- Extends and standardizes timeliness for filing drawback claims
- Requires the electronic filing drawback claims