by Bob Kirke, posted on 5:55 AM, June 26, 2023
The CBSA has proposed changes to customs regulations that, if adopted, would significantly change how goods imported into Canada are valued for customs duties and GST.
The proposal has two elements: The first deals with Non-Resident Importers (NRI). The proposed changes would limit how NRIs value goods imported into Canada, closing an alleged loophole CBSA claims puts Canadian-based importers at a disadvantage.
The second change would impact all importers. The CBSA is proposing that imports would be valued based on the "last-sale" to a customer in Canada, rather than on their purchase price. For example, a wholesale company importing a product into Canada which is sold to a retailer would pay duties on their selling price, as opposed to the price the importer paid. This proposal would increase the value of imported goods and associated duties.
Contact Bob Kirke, email@example.com at the Canadian Apparel Federation, if you re concerned about his issue and wish to support the Canadian Apparel Federation's submission.
This submission is due July 26, 2023