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An update on CARM’s Release 2.
Read more: An update on CARM’s Release 2.The Canada Border Services Agency has been in the process of implementing its Assessment and Revenue Management (CARM) program which, when fully operational, will simplify and modernize reporting processes, reduce the cost of importing to Canada, and ensure compliance with trade rules. (We’ve posted updates on this process in previous blogs.) The CARM client portal…
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How the USMCA benefits small businesses.
Read more: How the USMCA benefits small businesses.Everyone knows that there’s a trade agreement between Canada, the U.S., and Mexico, but many people don’t know how this agreement can benefit small businesses. The United States – Mexico – Canada Agreement (USMCA, or CUSMA as it’s known in Canada) replaced the North American Free Trade Agreement (NAFTA) and came into effect on July 1, 2020.…
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CARM phase 2 arrives this fall.
Read more: CARM phase 2 arrives this fall.The countdown is on to CARM’s phase two. CARM is the Canada Border Services Agency’s Assessment and Revenue Management project that was designed to remove the ‘paper burden’ from importers and brokers, and requires importers to deal directly with the CBSA on financial matters, rather than through a customs broker. Its goals include simplifying and modernizing the…
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A note on proposed duty valuation changes.
Read more: A note on proposed duty valuation changes.Changes proposed by the Canada Border Services Agency (CBSA) will have a sizeable financial impact on businesses that import into Canada through a Canadian subsidiary, or sell imports via a Canadian branch or dependent agent. As per Bennett Jones: The draft amendments, if adopted in their current form, will cause an increase in declared values…
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A look at shipping ports in Canada.
Read more: A look at shipping ports in Canada.As per AZ Animals: Canada’s ports play a key role in global trade, serving as gateways that connect this massive country to the rest of the world… Stretching from the Pacific to the Atlantic and reaching up to the Arctic, these ports show off Canada’s geographical diversity and its extensive maritime reach. Each port, with…
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Understanding the GST, PST, and HST.
Read more: Understanding the GST, PST, and HST.Foreign companies doing business in Canada should familiarize themselves with several tax terms – the Goods and Services Tax (GST), the Provincial Sales Tax (PST), and the Harmonized Sales Tax (HST). The GST is a 5% federal tax that applies to most Canadian goods and services. It was implemented in 1991, to replace the hidden Manufacturer’s Sales…
