‘ King News’ Category

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 come into force on January 1, 2022…

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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 process down into manageable steps. Here are some action steps: Get…

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CARM | Duty and Tax Liability and Payment Under CARM

Many Canadian importers have questions about the financial changes coming over the next year, and King Bros is here to help. Two of the biggest changes that will be ushered in by CARM Release 2 in Spring 2022 will be the mandatory use of the CARM Client Portal (CCP), and the transferring of financial liability…

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CARM, Surety Bonds and Posting Security: What You Need to Know

CARM and Importer Security Bonds One of the biggest changes introduced by the Canada Border Services Agency (CBSA) Assessment And Revenue Management (CARM) is the need for importers to provide their own financial security in order to enjoy Release Prior To Payment Privileges (RPP). RPP allows goods to be released into Canada before the duties…

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