CBP Sets Quarterly Interest Rates for Customs Duties Underpayments and Refunds
CBP released the quarterly IRS interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties. For the quarter that began Oct. 1, the interest rate for overpayments is 7% for corporations and 8% for…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
non-corporations. The rate for underpayments is 8% for both corporations and non-corporations. That's up from the previous quarter, when rates were 6% for overpayments for corporations, 7% for overpayments for non-corporations, and 7% for underpayments (see 2307050040).