Boletín Importinfo Febrero 2023

New Supply Offers: February 2023

TFO Canada received 20 new supply offers in these categories:

12 – Food products and beverages (inc. seafood)
2 – Clothing (not inc. footwear)
2 – IT Services (inc. software)
2- Personal Care, pharmaceuticals and natural health products
1 – Medical Supplies
1- Fashion Accessories

Upcoming missions:

A delegation from Kenya, Ghana and Ethiopia will be exhibiting at International Food and Drink Event (IFE), from March 20-22, 2023 in London, United Kingdom…
10 Peruvian companies will be coming to CPMA Convention and Trade show at booth 1801, from April 25-27, 2023 in Toronto, Canada…
A virtual trade mission for a delegation of 15 Colombian women-led small and medium-size enterprise (SME) exporters engaged in software development, video games, audiovisual, and animation subsectors in Spring 2023 – the week of 17th April 2023 and 1st May 2023.

Look out for more information closer to date…

Canada Border Services Agency (CBSA): Assessment and Revenue Management (CARM)

The Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a multi-year initiative that will transform the collection of duties and taxes for goods imported into Canada. Through CARM, the CBSA will modernize and streamline the process of importing commercial goods.

Benefits

Once fully implemented, CARM will:

simplify the overall importing process
provide a modern interface for importing into Canada
give importers self-service access to their information
reduce the cost of importing into Canada
improve consistency of compliance with trade rules

This project is being released in phases. CARM Release 1, was in May 25, 2021 which launched the CARM Client Portal, a self-service tool that will facilitate accounting and revenue management processes with the CBSA.

The CARM Client Portal is available to importers and brokers, as well as trade consultants who currently submit rulings on behalf of importers. Those who have onboarded to the portal are able to view their transactions and statements of account, request a ruling and pay invoices with new electronic payment options.

CARM Release 2 is scheduled for October 2023. Release 2 is anticipated to expand the functionalities of the CARM Client Portal by adding:

electronic commercial accounting declarations with ability for corrections and adjustments
new requirements related to the Release Prior to Payment (RPP) program
harmonized billing cycles
new offsetting options
electronic management of appeals and compliance actions

At CARM Release 2, acquiring the privileges of the program will significantly change for importers. They will no longer be able to use their customs broker’s RPP security to clear shipments before paying duties and taxes. Importers who want to participate in the RPP program will be required to post their own financial security. They will have the following options:

Option 1: a financial security instrument for 50% of their highest monthly accounts receivable (inclusive of GST) with a minimum financial security of $25,000 per import program (RM)

Option 2: cash deposit for 100% of their highest monthly accounts receivable (inclusive of GST)

The current RPP program remains in effect until Release 2 is implemented. For more information visit: How the trade community can prepare (cbsa-asfc.gc.ca)