TradeLane

Acquiring an authorization, or as some would say, a certification proves that you have mastered a particular ability. You have spent time studying, understanding, and developing a skill set and are now authorized to apply that skill. You work towards these certifications throughout your life -- be it your Boy/Girl Scout badges, school diplomas, or your driving license.

The much-anticipated final ruling on continuing education for Licensed Customs Brokers was announced on June 22, 2023. As expected, US Customs and Border Protection (CBP), will require brokers to complete 36 hours of continuing education each triennial reporting cycle, beginning with the cycle ending in 2027.

The pace of change and increasing complexity in international trade has continued to gather speed and momentum as we get further into 2023 and shows little signs of abating. While, in some cases, the volume of goods crossing borders has stabilized, the regulatory intricacies of maintaining a resilient supply chain have grown exponentially for both customers and service providers.

Congratulations, you’ve successfully transmitted a Duty Drawback claim to U.S. Customs and Border Protection! Whether this is your first claim or just one of many, an accepted claim feels like an accomplishment, especially given the complexity of the Modernized Drawback regulations. At this point, many traders may believe their part is over and it’s time to sit back and collect the refund, right? Well, maybe not. Picture this… while (patiently) waiting for your refund, you receive a CBP Request for Information, also known as a CF28, and a notification letter from a CBP Drawback Specialist that your claim requires additional information to be processed, in the form of a Full Desk Review (FDR) - three words that strike fear into even the most seasoned trade professional. Now what?

The Canada Border Services Agency (CBSA) has proposed amendments to the method of assessing value for duty of imported goods. This would essentially change the Valuation for Duty Regulations. Depending on the importer’s business model, this could significantly impact duty and Goods and Services Tax (GST) payout.