In October 2023, the Canada Border Services Agency will implement a new program to change the way it collects duties and taxes from importers. Steve Bunda, Manager of Business Development for Customs, shares information on what's changing, how to act, and illustrates why now is the best time to act in preparation for this massive change.
The next step would be really to determine your sign-in preference, and this is essentially a government sign-in security key. There are two options. One is the GC key or Sign-in partner. Sign-in partner is where users authenticate themselves using their own banking credentials. But I would have to say with experience, the most common by far is registering for a GC Government Canada Key as a registration requirement.
And from there, Chris, as an importer, you have your business number, which is known as a BN9. You'll then need to provide Canada Border Services Agency with historical import transaction data from your past monthly statement of account SOA, also known as the affinity questions. And it really identifies as security questions to identify transaction number, total duties and taxes, and last payment of duties and taxes on the statement account. And from there, the importer would then delegate authority to your customs broker, allowing your broker to access the transactions on your behalf.
And as more importers are being told that they have to get onto the program, it's going to be essentially a bottleneck with surety companies and also with CBSA in processing these requirements. So leaving it till the start date, I wouldn't suggest it. I would suggest that you start on this immediately and work with your service provider and customs broker to get the bond set up and get them registered with CBSA. That's where we're going to see the key time element, you know, can still register onto the program without the security in place. But again, for implementation in October this year, you will require registration on the program, and you're going to need a bond in place.
But internally, importers have to take a look at their existing procedures in place today on how they make payment of the duties and taxes. Because that's, that's going to change under CARM here with, under CARM and the security bond in place, importers will now have the facility to remit the duties and taxes directly to the Canadian government. And that can be done in an electronic fashion.