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Interest Rates for Duty Refunds and Shortfalls Unchanged

Tuesday, December 31, 2019
Sandler, Travis & Rosenberg Trade Report

U.S. Customs and Border Protection has updated its list of the quarterly Internal Revenue Service interest rates used to calculate interest on overdue accounts (underpayments) and refunds (overpayments) of customs duties. For the quarter Jan. 1 through March 31, 2020, the interest rates for overpayments are four percent for corporations and five percent for non-corporations, and the interest rate for underpayments is five percent. These rates are unchanged from the previous quarter.

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