How is GST calculated on imported goods, and what is “duty paid value”?
The GST paid on imported goods is equal to 7% of the duty paid value of the goods. The duty paid value is equal to the value of the imported goods, in Canadian funds, plus any duties and excise taxes that may be payable. If we have “reason to believe”, how far back should we go to amend entries? Technically per Section 32(2) of the Customs Act, the amendment can be processed as far back as 4 years. For imports prior to Oct 7, 2002, Customs will not apply AMPS penalties. It is the discretion of the Importer to make the final decision. What is C-TPAT? Customs-Trade Partnership Against Terrorism is a joint U.S. government-business initiative to build cooperative relationships that strengthen overall supply chain and border security. C-TPAT recognizes that Customs can provide the highest level of security only through close cooperation with the ultimate owners of the supply chain, importers, carriers, brokers, warehouse operators and manufacturers. Through this initiative, Customs is askin
