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WAEC Commerce 2003 Question 20

Question 20

Foreign Trade

The refund made on goods re-exported after being imported is known as

  1. A.import duty
  2. B.export duty
  3. C.excise drawback
  4. D.customs drawback
Show the answer and explanation

Answer: D (customs drawback)

Explanation

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