The CBSA Audit Priorities were recently released for the second half of 2016. This gets called many things “Trade Verification Priorities” or the “CBSA Audit Target List” or just “2016 Audit Priorities”. Whatever name this gets really doesn’t matter, it’s a most wanted list.
Yep, the Marshal has put out the targets they’re gunnin’ for; and if yer importin’ them into Canada yer a most wanted importer.
Ok! You can lose the John Wayne or Yosemite Sam voice now.
Topics: North America, HS Classification
Put a band aid on it, it will be ok. Walk it off, you’re not really hurt and you’re holding up the game.
As a guy who has played hockey most of my life I have heard this many times. Then you wake up the next morning take a look and think “Hmm… That might need stitches”. Sometimes trade programs do not look as good as you thought, too.
Over the years, I have talked to many importers and exporters about the state of their trade programs. Most listen with great interest and agree that their trade program does not get the attention it deserves. I usually ask one simple question: How much of your business relies on trade?
Then there are the excuses for not paying attention to the international movement of your goods. When I was in school, I had plenty of excuses and now in my career I have hear lots of them.
Topics: Free Trade Agreements, Export Consulting, Import Consulting, HS Classification
How often does anyone really get free money? When you buy something at the store only to find out that you need to fill out the card and mail it in to get the rebate. Most people think about it on the way home and then leave the card on their desk.
But, what is the risk? You may end up giving some information to a company that probably already has your information. You may end up actually getting the money back. It is a minor investment of time to recoup some cash. An interesting statistic says that the majority of people who take advantage of rebates live in households that have an annual income of $100,000 or are between the ages of 35 to 64 and are women. Most of the rebates that go unfiled because of a technicality, it is not completed properly, or the man that gets it can’t be bothered to send it in.
I read another statistic that 70% of companies do not fully utilize trade agreements. When your country enters into a trade agreement with a country that you do business with, or want to do business with. What are your options?
Topics: Reconciliation, Free Trade Agreements
Customs Audits……Stop rolling your eyes like you did when your Father told you “good things come to those who wait” or “Rome wasn’t built in a day.”
Customs audits happen more regularly than your Father’s platitudes. I have worked with importers on some audits that have resulted in some minor changes. Yet there are others that take up lots of time, money, and resources. All of this trouble and drama can be avoided with a little preventative maintenance.
The usual issues for the CBSA are classification, valuation and preferential trade agreements. These are three things that as an importer you should have a good handle on. The CBSA is even kind enough to provide us with a list of the types of imported products they are targeting and what they are targeting them for. The link below takes you a list of items that the CBSA will be auditing this year.
http://cbsa-asfc.gc.ca/import/verification/menu-eng.html
It also tells you whether they are auditing for classification or valuation. You can click on a target to expand it and get a detailed description including the number of audits performed, value of reassessments and the fines that have been levied as a result of the audits. This is just like a dashboard light coming on telling you that you need gas. You don’t need that. You have that big gauge. Yet people still run out of gas.
Topics: Export Consulting, Import Consulting, North America, HS Classification
It’s that time of year where you get out the fall or winter jacket as the temperatures begin to drop. Well at least they do in Canada. There is almost nothing better than reaching into one of the pockets and finding a 10 or 20 dollar bill. The thoughts race through your mind as you gaze upon your new found treasure. Ahh found money.
Maybe I could buy something nice for someone….
Maybe I could place a bet on my favorite team….Or better still the underdog….
Maybe I could save it for a rainy day…Nah that’s just way too sensible.
Found money can turn up in the most unlikely places. The Canadian Customs Tariff has a whole chapter dedicated to found money, but most people never think to look there. Chapter 99 is titled “Special Classifications – Commercial”. What exactly does that mean? Housed in Chapter 99 are Harmonized System (H.S.) classifications that are tied to certain conditions; for the most part a specific end use. Goods imported into Canada that are normally dutiable may have an applicable Chapter 99 classification that would render them duty free provided they meet the criteria of the Chapter 99 classification.
Topics: North America, HS Classification
