A refund of the duty collected on goods imported and processed for re-export is?

A. excise duty
B. excise draw back
C. preferential duty
D. value-added tax

Correct Answer: Option B

B. excise draw back

Explanation

Duty drawback is the refund of duties, certain taxes, and certain fees collected upon the importation of goods. Refunds are only allowed on the export/destruction of the imported merchandise or a valid substitute, or the export/destruction of a certain article manufactured from the imported merchandise or a valid substitute.