Import and export of goods across borders can be costly and complex. Customs duties and fees on imported merchandise are bottom-line costs that reduce the overall profitability of companies. Managing these transactions effectively can provide a competitive advantage to growing businesses.
Therefore, it is essential for organisations to thoroughly understand Customs Duty Refund procedures so that they don’t overpay their dues. In the UAE, businesses need not pay VAT by cash if the business has linked its VAT TRN with the customs department. In case the business has paid customs duty and wants a refund for the same, it can submit its claim and get a refund.
Despite the advantages that businesses can leverage from customs refunds, eligible businesses fail to maximise their claims. This is largely due to the lack of knowledge on the subject or insufficient records to substantiate their claims. The process of refunds can also be time-consuming and tedious to follow.
This is where MBG Corporate Services can help. Our team offers expert guidance to help you receive your customs refund at the earliest. Our extensive services also include filing and submitting the necessary documents to the customs office and following up for updates on the refund process.
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