(NAR) VOL. 26 NO. 1/ JANUARY - MARCH 2015
“Section 9. Assessment and Collection. - Upon receipt of the FARR and after the determination of the appropriate administrative penalties, if any, the Commissioner of Customs shall issue to the importer:
- A collection letter directing the importer to pay, within ten (10) working days from receipt thereof, the deficiency duties admitted in the Reply to PEAF, and the appropriate fines and penalties; and/or
- A formal assessment of deficiency duties and demand letter directing the importer to pay within ten (10) working days from receipt thereof, the deficiency duties not admitted in the Reply to PEAF, and the appropriate fines and penalties.
Within five (5) days from receipt of the FARR, the Commissioner of Internal Revenue shall act on the findings stated in the FARR in accordance with the provisions of the National Internal Revenue Code of 1997, as amended.”