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Duty drawback refers to duties paid on?

Commerce
WAEC 2015

Duty drawback refers to duties paid on?

  • A. exported goods produced with local content
  • B. re-exported goods previously imported
  • C. imported goods for sale locally
  • D. locally manufactured goods for sale locally
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Correct Answer: Option B
Explanation

Duty drawback: A refund that can be obtained when an import fee has already been paid for a good, but the good is then subsequently exported.

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