CARM, CBSA Assessment and Revenue Management - Activation & Delegation
This video is about Activation & Delegation of authority - 2 Key Steps Necessary for Release 1 of CARM. CARM is CBSA’s Assessment and Revenue Management program is about the government retiring their legacy systems and moving to cloud technology and the beginning to building a bridge to link trade accounting data to other profiles within Canada Revenue Agency – CRA.
CARM's Release 1 is scheduled for May/June of 2021 and there will be immediate benefits to Importers ‘who Activate and Delegate’. These importers will gain access to certain types of trade accounting statements as well as enhanced payment options and new functionality including new methods of making payments and even the ability to set Pre-Authorized Debits to ensure you will experience a late payment or assessment of interest. Release 1 of CARM does require each importer to follow two key steps of Activation & Delegation.
Importers will need to appoint at least 1 person as a Business Account Manager (and a best practice is to have a minimum of 2 Business Account Managers). In fact, questions asked at the time of portal activation will only be known by someone who has access and authorization to corporate financial data (hence the role of Business Account Manager). Once the Business Account Manager and Import Account are ‘linked’ additional delegation can occur to other roles within the importer and to GHY as a third party so we can integrate additional linkages to data sets that will be of benefit and more relevance to our clients for their analysis and record-keeping (data that includes commercial descriptions and your trade SKUs - data that will only be available through GHY).
GHY will be working with CBSA by providing an advanced listing of importers we represent to ensure the delegation process is seamless for all GHY clients CARM is an important trade agenda item and further webinars and trade events will be hosted in the weeks and months ahead focused exclusively on this topic. However, if you are an importer seeking an in-depth understanding of CARM’s impact on your business, or if you are just looking to have a question answered, we have created a specific website https://cbsacarm.com to provide support. Additionally, questions can always be directed to firstname.lastname@example.org or 1-833-GHY-CARM.