Importers: Customs Reduces Amount of Time to Pay Bills

August 25, 2017
By Danielle Leonard

Customs reduces amount of time to pay bills2

Customs sent out a reminder, on August 14, which reiterated the 30 day time frame given to importers to pay supplemental duties, taxes and fees, and vessel repair duties. This reminder also announces a change in the dunning letter time frame. The previous time frame was 181 days from the date of the bill, however, beginning September 5, 2017, this will be reduced to 61 days.

What if you don’t pay?

If you don’t pay a bill in your day to day life, you get charged a late fee. If you continue not to pay, it can go to collections. With Customs it’s not much different. Customs will charge interest on the past due amount. If an importer fails to pay, they will be placed on sanctions due to the delinquent bill. Upon the next import, the shipment will be held until the delinquency is resolved. Payment of duties will then be required, in order to secure the release of the current shipment. This is why it is crucial to make sure payments are made on-time and to be aware that the time frame has shortened significantly.

If you have any questions regarding this article please contact a member of the Compliance team at compliance@mohawkglobal.com for assistance.

 


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