As of this fall, CARM will be the official system of record that importers and other stakeholders in the trade chain will use to pay taxes and duties. Is your business ready?
Phase 2 of CARM is scheduled to go live in October 2024. This phase introduces mandatory requirements for all importers, including the need to be registered on the CARM Client Portal (CCP). CARM is mandatory for all resident and non-resident importers. Failure to comply with the new requirements will prevent importers from bringing goods into Canada until the CCP registration and all obligations, including posting an importer bond, are completed.
Important deadlines and black-out period
There will be a black-out period in September 2024, during which all registration activities on the CARM Client Portal will be temporarily suspended. To avoid any potential disruptions to your import operations, we strongly recommend that registration is completed on the CCP prior to this black-out period. Importers who register before October 2024 will benefit from a 180-day grace period to arrange for financial security, a new requirement under Phase 2.
How BDO’s Customs and International Trade Services (CITS) team can assist you
Our Customs and International Trade Services (CITS) team is here to support you through the CARM onboarding process. We offer a range of services tailored to help you meet the requirements of both Phase 1 and Phase 2 of CARM.
Phase 1 – CARM Client Portal (CCP) Onboarding Services:
- Personalized assistance in obtaining your GCKey and necessary information for onboarding.
- Step-by-step guidance in registering your business on the CCP.
- A 1.5-hour one-on-one tutorial providing an in-depth walkthrough of the Portal’s current functionality in Phase 1.
Phase 2 – CARM Client Portal Assistance:
- Detailed functionality workshops to help you navigate the new features and requirements.
- Assistance in obtaining the mandatory customs bond, essential for compliance with Phase 2.
We highly encourage businesses to act promptly to ensure a smooth transition and compliance with the upcoming regulations. Our experienced team is ready to guide you through every step of the process.
Please do not hesitate to contact us to discuss how we can assist you with your CARM registration and compliance needs.
Krunal Soni, Senior Manager, Customs & International Trade Services
Brian Morcombe, Partner, Global Indirect Tax Practice Leader
The information in this publication is current as of August 15, 2024.
This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Canada LLP to discuss these matters in the context of your particular circumstances. BDO Canada LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.