Blockchain technology and the container shipping industry
What is blockchain? Blockchain technology is a computer-based open-source system for undertaking and tracking transactions. With an agreed-to network of interconnected participants, a blockchain eliminates the need for third party oversight traditionally provided by a bank or online tracking portal.
Importing printed material? New potential opportunities!
We all know that different types of goods mean different rates of duty at the border. What’s not as intuitive is understanding the distinction between similar items and knowing what classification category an item belongs to for the purpose of assigning duty.
Heads up! CBSA is serious about compliance.
We all know that an audit – or Trade Compliance Verification – by the Canada Border Services Agency (CBSA) is a looming possibility for anyone involved in cross-border trade. And recently it seems that audits are becoming more frequent.
How to apply for an Advance Ruling
What is it? An advance ruling is a legally binding designation of the classification of goods for the purpose of assigning tariffs. Advance rulings are issued by CBSA under the Customs Act and serve to provide clarity by confirming a good’s tariff classification number under the Canadian Customs Tariff.
What’s the auditor cooking?
The Canadian Border Services Agency (CBSA) undertakes trade compliance verifications (audits) to ensure their requirements are being met and the correct duty collected. Audits are conducted both randomly and by identifying goods of interest through targeted verifications. Here, we dive into the latest priorities for.
Increased possibility of high duties: How SIMA can affect your import costs
What is SIMA? One of the functions of the Canada Border Services Agency (CBSA) is to help protect Canadian producers from unfair foreign competition. In this spirit, the Special Import Measures Act (SIMA) helps protect Canadian industry from the unfair subsidizing and dumping of imported goods. CBSA and the Canadian.
A golden opportunity for U.S. importers: Importer Self-Assessment
What is it? Importer Self-Assessment is a U.S. Customs and Border Protection (CBP) program that offers qualified U.S. importers exemptions from certain security inspections and comprehensive audits, as well as expedited cargo release services. Started in 2002, the ISA program is based on the premise that importers.
Conditional Relief – Accurately Declaring the End Use of Your Imports Can Save You Duty
Here is another important piece of information for importers of goods into Canada: Certain dutiable goods can be brought into the country duty-free when the importer supplies attestations that the goods are being imported for specific end-uses. A certificate or record detailing the end use of the good must be.
Duty Drawback: A savings opportunity not to be missed
What is Duty Drawback? It’s a CBSA program that offers relief to Canadian businesses from payment of duties on imported goods that that meet certain criteria. Duty Drawback is an incentive program for Canadian manufacturers who produce goods for export purposes using imported components.
Supply chain security – be part of the solution
Border agencies have been on high alert since the terrorist activities of September 11, 2001. The twin challenges they now face are to ensure security at the border while continuing to enable the legitimate flow of people and goods, vital to the well-being of businesses and the economy. International Supply Chain.
