The following is provided by the Canada Border Services Agency (CBSA).
The Canada Border Services Agency’s (CBSA) Assessment and Revenue Management (CARM) project is a major transformation initiative to modernize the CBSA’s systems and business processes used to assess and collect duties on imported goods.
Trade chain partners (TCPs) currently have access to the CARM Client Portal, an innovative self-service tool that provides a simple and secure way to interact with the CBSA electronically. Once CARM is fully implemented on May 13, 2024, TCPs will benefit from efficiencies in the overall accounting process for commercial goods imported into Canada.
The following amendments will come into force on May 13, 2024, which will include nine regulations made under the Customs Act and three regulations made under the Customs Tariff to:
- support electronic communication between the CBSA, and TCPs by removing some requirements for in-person and paper-based communication and by adding some requirements for electronic communication (i.e. to account for goods and supply documentation related to duty free shop operations);
- update financial security requirements;
- implement simplified billing cycles that would provide more consistency among billing, accounting and payment due dates for imported goods, and enable a period to make corrections to accounting documents without triggering a redetermination or a penalty; and
- make consequential and housekeeping amendments to update outdated references and nomenclature in several regulations to correct the wording of referenced acts and regulations, government directives, Minister titles and reflect current program policy.
A new regulation under the Customs Act will set out the terms and conditions for the electronic administration and confirmation of financial security to the CBSA.
The regulations have been published in the Canada Gazette, Part II.
Canada Gazette, Part 2, Volume 158, Number 6: Financial Security (Electronic Means) Regulations