Proposed amendments to the Valuation for Duty Regulations (SOR/86-792) were published May 27 in Part I of the Canada Gazette (Canada Gazette Part I, Vol. 157, No. 21, 1686). These amendments, which are sponsored by the Canada Border Services Agency (CBSA), would affect how customs value is declared by importers of goods into Canada. The proposed changes were first announced in the federal government’s 2021 budget, and a preliminary consultation was held in June/July 2021.(CBSA, Consultation notice, “Potential regulatory amendments to the Valuation for Duty Regulations” (June 4 to July 4, 2021).
Source PwC
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