Drawback Demystified: Leveraging Regulatory Changes to Maximize Your Refunds - Dave Corn

Struggling with drawback claims and proof of export requirements? An industry expert shares insights on upcoming legislation and strategies to simplify the drawback process.

In this episode of Simply Trade, hosts Andy and Lalo sit down with drawback expert Dave Corn to discuss the current state of drawback regulations and upcoming legislative changes that could impact importers and exporters. Dave shares his unique perspective on how upcoming bills and regulatory updates around electronic export manifests could help streamline the proof of export process.

Main Points/Takeaways:

• Upcoming Drawback Legislation: Dave discusses two key bills - HR 7864 and Senator Cassidy's 21st Century Customs Framework - that aim to expand substitution allowances and minimize drawback application burdens.

• Streamlining Proof of Export: The transition to electronic export manifests will allow carriers to directly provide date and fact of export data to Customs, reducing the documentation burden for drawback claimants.

Key Insight: "We need to get out of that paper process for drawbacks. It'll be nice to kind of see things really come into the 21st century in drawback after with such an old program."

Dave Corn:
https://www.linkedin.com/in/dave-corn-3aa82223/

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Credits: Host:

Andy Shiles: https://www.linkedin.com/in/andyshiles/

Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/

Co-Producer/Editor: Mara Marquez: https://www.linkedin.com/in/maramarquez85/