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 brokers were able to…

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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 FAQ

What is CARM? Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) is a new system for providing financial security for goods being imported into Canada. Under CARM, importers will be responsible for providing the own security rather than using security provided by their customs broker. CARM is being introduced in two stages, in…

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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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