drawback

Definition

A rebate on taxes or duty paid for imported goods which are subsequently exported in the same form or a different form.

Use drawback in a sentence

The one major drawback was that I could not take all of my employees with me and would have to get rid of some of them.

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The drawback was excellent for us as we sourced inputs from all around the world and then turned around and exported our product.

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The company received a sizable drawback on the taxes they paid on the goods that they imported from Mexico and exported to Canada.

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drawback system online banking