- The Department of Finance (Finance) has announced that, effective 1 October 2024, the Government of Canada intends to implement a 100% surtax on all Chinese-made electric vehicles (EVs). The federal government also intends to apply a 25% surtax on imports of steel and aluminum products from China, effective 15 October 2024.
- Furthermore, Finance announced a 30-day consultation period, from 10 September 2024 to 10 October 2024, on potential surtaxes in response to Chinese trade practices in critical manufacturing sectors related to EV production.
- This Tax Alert provides an overview of these announcements and how they may impact businesses.
Source EY
Latest Posts in "Canada"
- CRA: Insurance Premiums Must Be Separated from Lease Payments for GST Exemption
- Navigating CRA Audits: How Canadian Companies Can Reduce Proposed GST/HST Assessments
- CRA Waives Late-Filing Penalty for Amended GST Returns Filed Before Deadline
- The Sales Tax Requirements of Selling Into Canada
- Canada Removing Tariffs for U.S. Goods Covered under CUSMA
