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WAEC Commerce 2002 Question 6

Question 6

Foreign Trade

The refund of a duty which had been paid on imported goods that are later re-exported is known as

  1. A.export tax
  2. B.surtax
  3. C.customs drawback
  4. D.mate's receipt
Show the answer and explanation

Answer: C (customs drawback)

Explanation

A customs drawback refunds import duty on goods that are re-exported.