The Transaction Value Method is the primary Valuation method used by CBSA. Here are the three criteria that must be fulfilled to qualify for the TVM on your imported goods into Canada.
As an importer, are you related to your vendor? Read on to understand the concept of related persons and its impact on determining the valuation method that best applies to your business.
Did you know there is a loophole that currently enables some non-resident importers (NRIs) to value their goods at a lower price than most Canadian/domestic importers? The government and CBSA are gearing up to mitigate this with new measures and CBSA is currently seeking public input regarding these measures announced in Budget 2021. Find out all the details here.
Find out more about measures proposed in Budget 2021 that could have significant potential impacts on Canadian and non-resident businesses engaged in international trade.