US Customs and Border Protection has opened its tariff refund platform to a second phase of applications, allowing importers to seek reimbursements for additional duties they paid before the apex court struck down the duties.
Firms were initially allowed to seek refunds for active entries as well as ones that were up to 80 days past the date of their liquidation.
A third phase may start later this month.
The government initially allowed companies to seek refunds for active entries as well as ones that were up to 80 days past the date of their liquidation, CBP said on its official site.
Some of the imports now eligible for tariff refunds are ones that were ‘flagged for reconciliation’, or for which the final duty calculation was not fully settled at the time of entry. In these cases, the importer filed preliminary customs declarations with the best available data, and final duties were expected to be settled at a later date.
A third phase including entries that were liquidated more than 80 days before the refund period is may start later this month. CBP said the third phase can process refunds on finally liquidated entries, which account for about $11.4 billion, or 6.9 per cent, of all IEEPA payments made by importers.
Once phase 3 is complete, CBP said about 95 per cent of the entries that were hit with IEEPA duties will be eligible for refunds through the system.
Fibre2Fashion News Desk (DS)
