US Customs to Clarify Interest on Underpayments and Overpayments of Duties, Taxes, and Fees

Summary

The US Customs has released a document to conform to existing statutory provisions and judicial precedent regarding interest on underpayments or overpayments of customs duties, taxes, and fees, including interest thereon. The changes aim to clarify the terms of the Tariff Act of 1930 and the North American Free Trade Agreement Implementation Act.