Duty refunds are always available until the absolute three (3) year deadline passes. Refunds that have been made may not be accurate, and duty drawback programs should be periodically evaluated for efficiency and effectiveness.
Fuerst Ittleman provides its clientele with duty refund analysis that includes:
- Consideration of the ever-changing HTS classifications;
- Accuracy of initial classifications: re-classification of the product may be needed, resulting in duty refunds;
- Thorough knowledge of applicable trade agreements can increase the amount of duty refunds, as well (for example, all products intended for automotive use from the NAFTA region are duty-free);
- Income tax law changes can result in pricing adjustments and correlated duty refunds; and
- Duty exemptions can be negotiated which may result in very large cost savings.
Furthermore, there are certain instances when filing suit is advantageous in maximizing duty refunds. With the proper legal arguments and strategy, a company can obtain a favorable decision from a trial (or appellate) court on the proper classification, or reclassification, of its product line -- even if agency reviews have been unfavorable, inflexible, and unchanging.
Fuerst Ittleman works with clients to insure that their duty refunds have been maximized. Fuerst Ittleman negotiates with authorities for duty exemptions, and fights for proper classifications in court, if necessary.
