The EU executive, the European Commission, which negotiated the agreement, dismissed ACEA's concerns, with an official telling wardsauto in Brussels this afternoon: " They are trying to paint this as a new advantage that we are giving South Korean manufacturers, but duty drawback
exists in the global trading system unless two partners reach a special agreement getting rid of it.
On duty drawback
, South Korea wants permission to return import tariffs to companies which use imported materials to make products for exports.
This system included: (i) exemption of exports from sales tax and central excise duty, (ii) duty drawback
scheme covering sales tax, central excise duty, and customs duty on inputs used in the production of exports, (iii) taxation of export of domestically produced raw materials, (iv) concessionary export finance and export credit guarantee scheme, and (v) income tax rebates.
7 million of charges associated with duty drawback
, the adjusted operating loss for the quarter is $7.
New Delhi [India], Jan 25 ( ANI ): As a step towards more efficient Input Tax Neutralisation on exports, the Government has enhanced the industry rates of duty drawback
for 102 tariff items, effective Thursday.
Castaloni, director at the DOF's revenue office and former head of the One-Stop-Shop Tax Credit and Duty Drawback
Center, also confirmed that Carlos was 'dismissed from the service because of not declaring his assets in his SALN, and I think graft and corruption also.
Government plans to make Textile sector more competitive in global market by providing export incentives under schemes like MEIS, Interest Subvention, MDA, MAI, Duty Drawback
It said there was evidence that "organised criminal activity" was behind a rise in duty drawback
claims--a scheme that allows traders to claim back duty on alcohol on the basis it is being sent abroad.
The debate showed "a very broad consensus on the significant benefits" of the FTA, said a spokesperson for the EU executive, even if it will be necessary to remain "careful" on implementing the clause on the duty drawback
system in the automobile sector.
Easy availability of Capital Financing Area and Industry specific government incentives Availability of Cheap Raw Material Yarn (Export duty on yarn) Adequate Duty Drawback
rates Export refinance facility available at 3%.
But we do have concerns about the agreement, mainly dealing with these areas: rules of origin, manmade fibers, the tariff phase-out, non-tariff barriers, the duty drawback
, subsidies, antidumping, countervailing duties, dispute settlement and resolution, intellectual property rights and foreign investment.
Customs' investigation related to the Company's previously filed duty drawback