What is CARM?
The CBSA Assessment and Revenue Management, or CARM, project introduces new online tools that change the way tax and duty is collected for goods imported into Canada.
What are the key changes for importers?
CARM changes how you’ll work with your customs broker. Your broker can still complete your customs releases and entries. But several of the tasks your customs broker currently does for you will be your responsibility under CARM:
- Posting financial security (surety bonds)
- Accounting
- Payment processes
Fear not! You can delegate authority to your broker through the CARM Client Portal (CCP)
Where do I go for more information?
What do importers need to do?
We will cover this in more detail in subsequent parts of this series, but here’s an overview of your to-do list as a Canadian importer preparing for CARM:
- Get your financial security (surety bond) in place
- Set up electronic payments with CBSA
- Adjust your Accounts Payable procedures for CBSA’s billing cycle
- Figure out your internal processes and people for the CARM Client Portal (CCP)
- Figure out how you’ll delegate authority to your customs broker and any other third parties.
- Register on the CCP and set up your account
You’ll need to have all of this in place by the October of 2023, but we suggest starting the process now.