How to determine your customs valuation
What is a customs valuation?
Customs valuation is the identification of the value of the goods intended to be shipped. Of course, CSBA has a requirement that imported goods have a value listed, which in turn is the base amount on which you must calculate the fees-- like duty and taxes-- you will need to pay.
It’s not uncommon that importers and business owners grapple a little bit with determining valuations. If you are having trouble...
Are you taking advantage of Canada’s free trade agreements?
Free trade agreements (FTAs) are made between nations that want to ease the flow of goods between countries by reducing fees and duties. Canada is regularly referred to as an open trade country. Canada has 12 active free trade agreements with the US, Mexico, Israel, South Korea and others, with 8 others currently in negotiations.
As a Canadian business that imports and exports goods, you should be taking advantage of any available active agree...
The benefits of being a non-resident importer
A non-resident importer (NRI) is an individual that ships goods to Canada acting as an importer of record that is not located in Canada and is not a resident of Canada. Being an importer of record means that the individual is liable for customs clearance and compliance with regulations.
In the advent of the internet, foreign companies now have the ability to market their products to Canadians without being established in Canada. Foreign s...
Want to ship to an inland port? Here’s what you need to know
Shipping goods can be logistically arduous for a few reasons-- especially if you’re a small business and shipment processing isn’t your main focus. One key factor will be to determine whether the package’s destination will be to a marine or inland port.
The bottom line is that there are cost considerations for both port options. If your business isn’t saving money in the port you choose, it may be time to reconsider your shipping l...
Our First Time Importers Guide for Small Business Owners
Navigating the complexities of international markets may seem like an overwhelming step to take to grow your business, but unlocking a larger market is worth the time and money—if done right.
We’ve put together a quick guide for first time importers to help you get things rolling.
Register your business as an importer
The first step is to get your business licensing and registration in order. This will give you an official Busine...
