CARM Canada has several benefits for importers and exporters. These include the ability to submit customs rulings electronically, a more efficient way to track shipments, and the elimination of the need for a B3 form. CARM also offers importers the chance to register with the CBSA before the second phase is released. In addition, this program can help importers become members of the RPP privilege, which allows them to release shipments before payment has been received.
Businesses must register for CARM Canada. If they fail to do so, they will not be able to import products to Canada. The first step is to designate a Business Account Manager (BAM). This person will register the company with CCP, provide other staff members with access to the portal, and oversee all interactions with the CBSA via the system. To further ensure success, it is recommended that a business designate a second Business Account Manager.
The project has been called CARM and is a massive effort to modernize CBSA’s import compliance processes. Through the project, CBSA is aiming to simplify importers’ tasks by modernizing their import accounting and data management systems. Specifically, CARM is intended to reduce costs, increase compliance with trade rules, and improve border security. Phase one launched in 2021 and will be completed by January 2023. Importers can enroll in the project and receive a customized web-based portal to manage their import and export activities.
Customs brokerages and importers can tailor services to meet their needs with CARM. The system is efficient, digital, and flexible, and will help modernize border services while strengthening the Canadian economy. The CARM portal will be a crucial tool for any importer or exporter in Canada. With the help of BDO Canada’s Customs and International Trade Services team, importers can navigate CARM Canada and its changes. In addition, the firm can support ongoing reporting to the CBSA.
Release 2 of CARM will establish the norms for the newly implemented system and provide access to all of the CPP’s functionalities. Because of this, the electronic Commercial Accounting Declaration (eCAD) form and the Direct Security Bond mandate will be implemented.
The Direct Security Bond mandate requires importers to directly secure commercial imports rather than relying on customs brokers and other service providers. In light of this, it is absolutely necessary to ensure one’s financial stability as soon as possible in order to be ready for the new system. In addition to CARM Canada, the forthcoming implementation of the RPP as well as changes to it will guarantee that importers will be able to continue meeting their compliance obligations.
While the proposed legislation would not affect electricity rates in Newfoundland and Labrador, it would allow the government to continue discussions on the Muskrat Falls and Lower Churchill projects. In addition, it would provide $2.5 billion to Newfoundland and Labrador as a net value, which will be used for the Hibernia exploration of the ocean. However, the proposed legislation may pose a legal challenge to the proposed new federal government’s Lower Churchill and Muskrat Falls projects.
