7 U.S.C. § 617 — Refund on goods exported; bond to suspend tax on commodity intended for export
submitted 93 years ago by ch. 25 to r/title-7-AGRICULTURE · 330 words · no verdicts yet
When a product made from a taxed commodity is exported, the tax paid or due is credited or refunded under the stated rules. A person may also process or hold taxed commodities for export without paying the tax after giving a satisfactory bond.
(a) When a product made wholly or partly from a commodity subject to a tax under this chapter is exported to a foreign country or the listed territories, the tax due or paid is credited or refunded. Under approved regulations, the credit or refund goes to the consignor named in the bill of lading, the shipper, or the person liable for the tax if the consignor waives the claim in favor of that shipper or person. For rice, a tax paid by tax-payment warrant counts as paid, and an authorized refund amount scheduled by the Commissioner must be paid despite other law. For sugar*-beet and sugarcane products, exports to the listed territories qualify only if this chapter is not applied there to those commodities. “Product” includes merchandise, a container for merchandise, and other exported products. (b) After giving the Treasury Secretary a bond guaranteeing compliance with the tax-payment rules, a person may process for export, without paying the tax, a commodity subject to this chapter's tax, or hold for export an article made wholly or partly from it.
Upon the exportation to any foreign country (and/or to the Virgin Islands, American Samoa, the Canal Zone, and the island of Guam) of any product processed wholly or partly from a commodity with respect to which product or commodity a tax has been paid or is payable under this chapter, the tax due and payable or due and paid shall be credited or refunded. Under regulations prescribed by the Commissioner of Internal Revenue, with the approval of the Secretary of the Treasury, the credit or refund shall be allowed to the consignor named in the bill of lading under which the product is exported or to the shipper or to the person liable for the tax provided the consignor waives any claim thereto in favor of such shipper or person liable for the tax. In the case of rice, a tax due under this chapter which has been paid by a tax-payment warrant shall be deemed for the purposes of this subsection to have been paid; and with respect to any refund authorized under this section, the amount scheduled by the Commissioner of Internal Revenue for refunding shall be paid, any provision of law notwithstanding. In the case of sugar* beets and sugarcane, this subsection shall be applicable to exports of products thereof to the Virgin Islands, American Samoa, the Canal Zone, and/or the island of Guam only if this chapter with respect to sugar beets and sugarcane is not made applicable thereto. The term “product” includes any product exported as merchandise, or as a container for merchandise, or otherwise.
Upon the giving of bond satisfactory to the Secretary of the Treasury for the faithful observance of the provisions of this chapter requiring the payment of taxes, any person shall be entitled, without payment of the tax, to process for such exportation any commodity with respect to which a tax is imposed by this chapter, or to hold for such exportation any article processed wholly or partly therefrom.
Source credit: (May 12, 1933, ch. 25, title I, § 17, 48 Stat. 40; May 9, 1934, ch. 263, §§ 12, 13, 48 Stat. 676; Mar. 18, 1935, ch. 32, § 11, 49 Stat. 48; Aug. 24, 1935, ch. 641, § 28, 49 Stat. 770; June 22, 1936, ch. 690, § 601(a), 49 Stat. 1739; Proc. No. 2695, eff. July 4, 1946, 11 F.R. 7871, 60 Stat. 1352.)
- 1933Enacted · Act of May 12, 1933, ch. 25 · 48 Stat. 40
- 1934Amended · Act of May 9, 1934, ch. 263 · 48 Stat. 676
- 1935Amended · Act of Mar. 18, 1935, ch. 32 · 49 Stat. 48
- 1935Amended · Act of Aug. 24, 1935, ch. 641 · 49 Stat. 770
- 1936Amended · Act of June 22, 1936, ch. 690 · 49 Stat. 1739
A history note hasn’t been published yet. The record shows enactment by ch. 25 on 1933-05-12.
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