Trade incentives permit companies to waive, postpone or refund some or all of the duties and taxes that would otherwise be payable. Before reviewing the many programs, let's take a look at Canada’s Foreign Trade Zone Program.Learn More
Canada has a number of Trade Incentive Programs to allow Canadian companies to remain competitive in the ever increasing global competitive market and to entice foreign investors to invest in Canada. Trade incentives permit companies to waive, postpone or refund some or all of the duties and taxes that would otherwise be payable. Before reviewing the many programs, let's take a look at Canada’s Foreign Trade Zone Program.
Canada’s Duty Drawback program is administered by the Canada Border Services Agency (CBSA) and is one of their Trade Incentive Programs which we explained in a previous blog post Canada’s Trade Incentive Program.
CBSA has a program whereby commercial clients can correct inaccurate or incomplete information or disclose previously unreported information. When this is done voluntarily CBSA may grant monetary relief to the client. This program is known as the Voluntary Disclosure Program.
The delay of the Canada Border Services Agency Assessment and Revenue Management (CARM) Release 2 came with a sigh of relief from many Canadian importers that had not yet gone through the process of setting up a CARM Client Portal. However, for those proactive users who did, this delay presented an annoying challenge of having their GC Key deactivated for lack of use. In this blog we will explore why this is happening and how to avoid it whilst still being prepared for CARM in 2023.
Importers must provide to the Canada Border Services Agency (CBSA) a “value for duty” for all goods imported into Canada. Value for duty must be determined in accordance with the Canada Customs Act regardless of the circumstances of the importation. CBSA will assess the duty and taxes payable on the value for duty of the importation. Importers must use one of the six methods identified in sections 48 - 53 of the Customs Act. You must use the methods in sequence as listed i.e if you can not use the transaction value as per Section 48 then you proceed to section 49 and on and on until you identify the appropriate method. Before we begin to review the methods of valuation we need to understand a few terms.
If you are new to importing, you may be wondering how duties and taxes are paid to CBSA. In this blog we will walk you through the process as well as a few must-knows.
The sun is out and so are our plans to see the world! If you are someone who likes to adventure north of the border and explore all the wilderness adventures Canada has to offer, you may wonder what you can and cannot bring with you. Do you need to formally import anything? Are any things I want to bring prohibited? Do I require specific documentation? In this blog, we will review common items that are packed up and brought along with you on your journey through Canada.
Fresh, grated, powdered and processed cheese, ice cream, milk, dairy powders and other dairy productsLearn More
Plants, fresh flowers, greenery, trees, seeds and other horticulture related items
Meat and items containing meat products
Supplements, vitamins, minerals, fortified, beauty products
Chips, granola bars, canned goods, frozen meals, condiments
Power-assisted bicycles, e-bikes, electric bikes, motorized bikes, and electric scootersLearn More
Cars, trucks, motorized and self-propelled equipment to be driven on roads or project sites
Medical devices, bandages, masks, wheelchairs, ventilators and other related items