{"id":923,"date":"2018-11-26T15:38:55","date_gmt":"2018-11-26T15:38:55","guid":{"rendered":"http:\/\/www.bocintl.com\/en\/?p=923"},"modified":"2018-11-26T15:38:55","modified_gmt":"2018-11-26T15:38:55","slug":"the-boc-blast-274-11-26-2018-customs-duties-and-taxes","status":"publish","type":"post","link":"https:\/\/www.bocintl.com\/web\/the-boc-blast-274-11-26-2018-customs-duties-and-taxes\/","title":{"rendered":"The BOC Blast 274 11 26 2018 – Customs Duties and Taxes"},"content":{"rendered":"

\"\"
\nDear BOC Customer,
\n 
\nDue to the new US Government increased tariffs, BOC is offering its clients three options in regard to managing the new increased U.S. Customs Duties and Taxes paid on imported cargo:
\n <\/p>\n

    \n
  1. Sign up for the free ACH direct pay program with U.S. Customs. This is the most secure, compliant and economical option. It is free, and customs gives you extended monthly credit terms.<\/li>\n<\/ol>\n

     <\/p>\n

      \n
    1. Pre-pay BOC duties via ACH\u00a0before arrival and release of the goods<\/u>.<\/li>\n<\/ol>\n

       <\/p>\n

        \n
      1. Pay BOC an outlay fee of 5% on all duties (min $25) with NET 10 days terms.<\/li>\n<\/ol>\n

         
        \nIn regard to the ACH direct pay advantages, please note the below.
        \n <\/p>\n

          \n
        1. Eliminates the \u201cpass through\u201d person and you pay customs directly. This assures customs get paid timely and in full.<\/li>\n<\/ol>\n

           <\/p>\n

            \n
          1. When using US Customs\u2019 ACH Direct along with the optional Periodic Monthly Statement (PMS) payment program, the direct importer will net longer payment terms on average than the credit terms BOC allows. \u00a0ACH direct Periodic Monthly Statement gives the direct importer the ability to pay duties for goods that are released during a given month as late as the 15th<\/sup>working day of the following month.\u00a0 This not only provides additional flexibility in the management of your working capital but provides significant cash flow advantages with some entries getting up to 45 days credit depending on the day the entry is cleared.<\/li>\n<\/ol>\n

             <\/p>\n

              \n
            1. 68% percent of all duty payers are utilizing Periodic Monthly Statement\u00a0as it is now an industry \u201cbest practice\u201d.<\/li>\n<\/ol>\n

               <\/p>\n

                \n
              1. Most custom brokers are now charging a fee on duties because of the large percent increases on the monies being outlaid due to the new import tariffs. BOC will also be implementing an outlay fee program in 2019.\u00a0Starting January 1, 2019, all customers will be charged a 5% outlay fee for any duty outlay unless duties are prepaid before arrival or the customer has joined US Customs\u2019 ACH direct program.<\/li>\n<\/ol>\n

                 
                \nThank you for all your support and the partnership to date. We appreciate you considering to join the US Customs ACH Direct and PMS programs. Please contact your local BOC Office or Sales Representative with any questions.
                \n 
                \nThank you,
                \nBOC International, Inc
                \n 
                \n\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

                Dear BOC Customer,   Due to the new US Government increased tariffs, BOC is offering its clients three options in regard to managing the new increased U.S. Customs Duties and Taxes paid on imported cargo:   Sign up for the free ACH direct pay program with U.S. Customs. This is the most secure, compliant and<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[507],"tags":[],"class_list":["post-923","post","type-post","status-publish","format-standard","hentry","category-the-boc-blast"],"_links":{"self":[{"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/posts\/923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/comments?post=923"}],"version-history":[{"count":0,"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/posts\/923\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/media?parent=923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/categories?post=923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bocintl.com\/web\/wp-json\/wp\/v2\/tags?post=923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}