close
Share with your friends

Canada: Customs audits, importers of all goods subject to surtax

Canada: Customs audits, importers of all goods

Canadian companies that deal in a variety of products ranging from motorcycles to washing machines may be affected by a 10% surtax that is imposed on “other goods” imported from the United States—a levy that is being imposed in reaction to the U.S. actions concerning the steel and aluminum sectors.

1000

Related content

The Canada Border Services Agency (CBSA) has looked at the amount of surtaxes collected on “other U.S. goods” and has concluded that the volume of imports of these products against the amount of surtax collected does not balance. Accordingly, the CBSA has started to audit importers of all goods subject to surtaxes. Currently, there are over 100 customs audits underway in the greater Toronto area and many more across Canada.

The U.S. steel and aluminum tariffs—as well as the tariffs on a broad range of goods originating in China and destined for the United States—have also affected Canadian companies. Yet, some companies may be able to consider strategies to address the increased costs associated with these disruptive trade actions.


Read a May 2019 report prepared by the KPMG member firm in Canada

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

Request for proposal