What is Duty Deferral?
Duty Deferral A regulatory program that allows importers to postpone payment of customs duties and taxes for a specified period, subject to conditions.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Duty Deferral” Used in Practice?
The importer utilized the duty deferral scheme to postpone payment of duties until the goods were sold domestically.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Duty Deferral?
A regulatory program that allows importers to postpone payment of customs duties and taxes for a specified period, subject to conditions.
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