The basics of customs valuation
The term “customs valuation” has a mysterious ring to it, as if it were based on some esoteric, perhaps dark principles. In fact, it is usually fairly straightforward. The valuation of 90% of imports is based on “transaction value”, the price payable on the commercial invoice issued by the exporter. The trick is to recognize…
The opportunities of CARM
If you import goods into Canada, you will have heard of the CARM initiative of the Canada Border Services Agency (CBSA). Your broker will be peppering you with emails to encourage you to register at the online portal, post a security bond and begin paying your duties and taxes directly. Unless you wish to account…
Preparing your customs documents using online resources
Importing goods can be intimidating. The customs rules are complex and inflexible, and the forms full of details and coding that appear undecipherable. That is why we have customs brokers. Many importers to assume that, once they hire a broker, they do not need to invest time and energy in understanding customs and trade concepts.…