Are you at risk for penalties?
Every year, the Canada Border Services Agency (CBSA) targets importers of certain products to verify that the information reported about them was correct. This information includes the tariff classification, value, and origin of the goods. Getting even one of those pieces of information wrong can lead to either an underpayment or overpayment of duties, penalties, and interest.
When Canadian companies are non-compliant with the Canadian import rules, they are at risk for hidden costs that could impact their bottom line. BDO Canada’s Customs & International Trade Services (CITS) Team can help you navigate CBSA’s verification process to help mitigate the risks of penalties. Whether you have already received your verification letter or need to get ahead of an audit by conducting a review before you are selected, we want to help try to reduce your exposure.
Some of the priority goods that are targeted for verification this year are:
- Spent fowl
- LED lamps
- Furniture for non-domestic purposes
- Parts of lamps
- Cell phone cases
- Pickled vegetables
- Parts of machines and mechanical appliances
- Bicycle parts
- Parts of ruse with Machinery of Chapter 84
- Freezers and other freezing equipment
- Washers and dryers