Updated Interest Rates for Additional Duties on Reconciliations
U.S. Customs and Border Protection has posted an updated list of the interest rates (updated for the fourth quarter of 2011) for additional duty payments owed to Customs as a result of reconciliation. CBP notes that when a reconciliation results…
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in additional monies owed CBP, the payment must be made with interest, calculated by the filer using the rates provided in the list. For October 1 - December 31, 2011 the rate is 3%.