What is SIMA ?
What is SIMA? If you were listening to the news this May, you might have heard about an increase in duty on furniture from China and Vietnam. The announcement kicked off a storm of controversy and panic from retailers and purchasers concerned about rising costs. That additional duty was SIMA, and importers are often surprised […]
US Legislation Threatens Victoria Cruise Industry
US Legislation Threatens Victoria Cruise Industry Tourism industry professionals in Victoria are concerned by news that several Alaskan senators and congressmen are seeking to pass legislation that could seriously impact the cruise ship industry in BC. Currently, the US Passenger Vessel Services Act prohibits foreign-flagged vessels from travelling directly between two US ports. Because of […]
Your Guide to the Proposed Canadian Luxury Tax
Your Guide to the Proposed Canadian Luxury Tax In April, the Trudeau administration unveiled the 2021 federal budget. Among 288 proposals aimed at combating COVID-19 and rebuilding the economy is the proposed Luxury Tax. With the administration’s re-election on September 20, the Luxury Tax is very likely to be passed into law. The Luxury Tax will […]
Importing Electric Bicycles
Importing Electric Bicycles Electric bicycles are growing in popularity with commuters, tourists and businesses in Canada. Because e-bikes and e-trikes are considered vehicles, there can be additional customs requirements when importing them. Depending on their specifications, some power assisted bicycles may be considered regulated vehicles by Transport Canada, in which case they will need to […]
How to set up a CARM Client Portal
How to set up a CARM Client Portal STEP 1: GATHER INFORMATION You will need your business number and RM reference number to set up a CARM business account. If you are a new importer, you can obtain an RM reference number by calling the Canada Revenue Agency at 1-800-959-5525 and giving them your business […]
CARM | What You Need to Know as a New Importer
CARM | What You Need to Know as a New Importer The process of getting started as a commercial importer can be daunting. If you’re importing commercial goods into Canada for the first time and it feels like you’re jumping head-first into the deep end of the import process, don’t worry! Below, we’ve broken the […]
CARM | Glossary of Terms and Acronyms
CARM | Glossary of Terms and Acronyms Accounts Receivable Ledger (ARL) – the official system of commercial accounting and payment used by CBSA. The ARL was introduced in 2016 as the first step in the CARM transition and will be replaced in 2022. Advance Ruling – a ruling issued by CBSA on the tariff classification of specific […]
CARM and the Commercial Accounting Declaration
CARM and the Commercial Accounting Declaration During next year’s CARM Release 2, the current accounting documents used by CBSA will be replaced by a single new declaration. The B2 and B3 System The current accounting documents are the CBSA B3 (Customs Coding) and B2 (Request for Adjustment) forms. If you’ve ever self-declared a shipment in […]
CARM Introduces a New Billing Cycle: What You Should Know
CARM Introduces a New Billing Cycle: What You Should Know CARM Release 2 will usher in several changes to the CBSA billing cycle. Under CARM, the Commercial Accounting Declaration will be required to be submitted to CBSA within five business days of the release of the goods for both High-Value and Low-Value shipments. High-Value shipments […]
Understanding CARM Financial Statements
Understanding CARM Financial Statements The Canada Border Services Agency (CBSA) Assessment and Revenue Management (otherwise know as CARM) is a large multi-year project which started in 2016 with the Accounts Receivable Ledger (ARL). With release 2 of CARM, changes will be made to ARL. What Is ARL? ARL changed the way importers or their customs […]