How CARM Canada Benefits Importers
The purpose of CARM Canada is to modernize and streamline the collection of taxes and duties on imported goods. The program provides online cloud-based services that trade chain partners can use to view business numbers, make payments for duties and taxes, and view their CBSA statement of accounts. Its Accounts Receivable Ledger went live in April 2018.
The new CCP will require importers to register for CARM to be eligible for the RPP privilege. This privilege will allow importers to release shipments before they pay customs. Businesses will be required to designate a Business Account Manager to access the CCP portal and oversee all interaction with the CBSA via the portal. Having a second Business Account Manager is also a good idea. These changes will have a direct impact on how importers do business and will require significant changes in the way businesses operate.
With CARM, importers can streamline the entire import process to make the whole process more efficient and seamless. The CARM Portal allows importers to classify their goods online, estimate duties and taxes, and submit e-declarations. This process results in a more efficient, paperless clearance of goods, reducing the chances of orders being held at customs. This new system is in its trial phase, but it will become mandatory for importers in phase two.
In addition to streamlining the import clearance process, CBSA Assessment and Revenue Management is a multi-year initiative to modernize the collection of taxes and duties for commercial goods. To participate in this program, all importers must register in the CARM Client Portal. If you have any questions or concerns, please feel free to contact us. We will guide you through the process. Our experienced team of import clearance specialists will be able to answer your questions and help you understand how the new CARM will affect your business.
One of the most important aspects of the project is the CARM Client Portal. The Canadian Border Services Agency (CBSA) and the trade chain will primarily communicate with one another through the use of this web-based platform. Importers will be able to access their import records online and make payments for duties and taxes as a result of this feature. A GCKey, a sign-in partner, and a direct security bond are all going to be necessities for CARM. The first stage of implementation of this system is currently taking place, and the second stage is scheduled to begin in January 2023.
The Canada Border Services Agency (CBSA) is going to release the final version of CARM, which will include a brand new electronic commercial accounting declaration form. In addition to that, the mandate for direct security bonds will be put into place.
Instead of relying on customs brokers or other third-party services, importers in Canada are now required to take responsibility for the safety of their own commercial shipments. This is a change from the previous requirement. As a result, if you are thinking about taking part, now is the time to start getting ready. If you are unsure how to get things moving, download our 12-page document and begin working on it as soon as possible.