Your Broker Knows Blog

CBSA Valuation

Jan Brock

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.

August 12, 2022

Small Business Importing 101: Paying Duties And Taxes

Jan Brock

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.

July 20, 2022

Summer Cross-Border Recreation Travel

Gloria Terhaar

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.

July 15, 2022

How To Import A Live Horse Into Canada

Taryn Hannah

Over the years, live horse import has become highly regulated. Canada and the US have regulations governing the movement of horses across their shared border. This has led to importers being required to prepare well in advance of their trip.

July 8, 2022

The Emergence Of Digital Economy Agreements

Jan Brock

The pandemic has highlighted the significance of the digital economy and its impact globally. It has precipitated the importance of including new digital trade chapters in trade agreements as well as standalone digital trade agreements like the Digital Economy Partnership Agreement. (DEPA).

June 6, 2022

What's The State Of Canadian Trade In 2022?

Jan Brock

The Covid-19 pandemic continues to affect the global trade flows and economic growth throughout 2022 and likely through to 2023. The third year of Covid-19 and the Ukraine/Russia crisis has caused intensified geopolitical uncertainty that could hinder global economic recovery. The World Trade Organization (WTO) expects merchandise trade volume growth of 3% in 2022 which is down from a previous forecast of 4.7% and 3.4% in 2023. The most immediate economic impact of the Russia/Ukraine crisis has been a rise in commodity prices. Russia and Ukraine are large suppliers of essential goods that include food, energy and fertilizers. This has impacted many countries around the world but particularly low-income countries where food accounts for a large part of a household income. Another concern is lockdowns in China to prevent the spread of Covid-19 which has again disrupted supply chains.

May 25, 2022

FAQ About Importer Record Keeping Responsibilities In Canada

Jan Brock

Importers who import commercial goods into Canada must maintain books and records as prescribed by the Customs Act and Regulations. Importers must be prepared to provide access to and copies of to Canada Border Services Agency (CBSA) for trade audit purposes. In this blog, we will explore the dos and don’ts of importer record keeping responsibilities for Customs.

May 12, 2022

BN and RM Numbers | What Do They Have To Do With Importing Into Canada?

Jan Brock

What is Step 1 when importing commercially into Canada? Well, the answer is obtaining a Business Number (BN). In this blog we will explore what it is, why importers need one and how it’s different from an Import/Export (RM) number.

April 21, 2022

Customs Referrals, Detention and Demurrage

Jan Brock

Many importers wonder why their shipment may have been referred by Customs for examination. Additionally, importers who import via a seaport may be presented with charges such as demurrage and detention and not be clear on what these charges relate to. Let’s take a closer look at these terms to gain some understanding.

March 23, 2022

Anti-Dumping, Countervailing, And Provisional Duty Simplified

Jan Brock

Generally, when goods are imported into Canada they are subject to customs duty. However, if it is found that these goods from a specific country and company have caused injury to a Canadian domestic industry, or threatened to cause injury by being dumped or subsidized, then another duty could be assessed on the goods. These are known as anti-dumping and/or countervailing duties.

March 3, 2022