What Is CARM?
The CBSA Assessment and Revenue Management (CARM) is an initiative by Canada Border Services Agency (CBSA) to improve the collection of duties and taxes for commercial goods being imported into Canada. The initiative targets the revenue and cash management systems that are currently in place for assessing and collecting duties and taxes and replaces them with a simplified process that includes electronic payment options.
How Does It Effect You As An Importer?
Participation in CARM will be mandatory for all Canadian- resident and non-resident businesses that import goods into Canada and their trade chain partners (TCPs) that interact with the CBSA. Importers that do not participate may be prohibited from bringing goods into Canada.