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 begins Oct. 1, the interest rate for overpayments is 7% for corporations and 8% for…
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non-corporations. The rate for underpayments is 8% for both corporations and non-corporations. That's unchanged from the previous quarter.