The Canadian Government, through the Canada Border Services Agency (CBSA), is embarking on a significant modernization journey with the Assessment and Revenue Management (CARM) project. This initiative aims to streamline the collection of duties and taxes for imported goods into Canada. As a business owner involved in importing, it’s crucial to understand how CARM might impact your operations.
Canada Border Services Agency’s (CBSA) Assessment and Revenue Management project, affectionately known as CARM (CBSA MESSAGE), is poised to revolutionize the country’s customs processes. This multi-year initiative, set to become the official system of record on May 13, 2024, aims to modernize duty and tax assessment, generating over $30 billion in annual revenue from commercial goods.
Who Does CARM Affect? (LEARN MORE HERE )
CARM applies to a wide range of businesses, including those that import goods once a year, utilize customs brokers for imports, receive commercial goods through couriers, import goods for future sales, and use imported items for commercial, industrial, or institutional purposes.
Preparing for CARM: Key Steps
Businesses should proactively register on the CARM Client Portal (CCP) before May 2024 to ensure a smooth transition and avoid potential delays in commercial shipments. This registration is necessary even if a customs broker is part of the import process.
By visiting the CARM Client Portal and selecting “Log into the CARM Client Portal,” businesses can access the current portal functionality and anticipate additional features coming in May 2024.
For those employing customs brokers or third-party service providers, delegating authority to them through the portal is essential. Communication with these partners is crucial to prepare for the impending changes jointly.
Understanding the benefits of early registration, particularly during the Release Prior to Payment transition period, is paramount. It allows businesses to effectively leverage the portal’s functionalities and adapt to the evolving landscape.
Preparing for CARM is a collaborative effort between businesses, customs brokers, and service providers. By taking proactive steps now, companies can navigate the upcoming changes seamlessly, ensuring a smooth flow of imports into Canada.
CARM is not just an acronym; it’s a transformative journey that requires collective dedication, adaptation, and readiness from government entities, service providers, and importers alike. As May 13, 2024, approaches, all eyes are on the coming modernization. If you have questions or need clarification on the changes, contact Edward J. Zarach and Associates today.