A few weeks ago we released information about the customs duty drawback program that helps your business claim Canadian customs duties back if it qualifies. Today I wanted to highlight some nuances and answer the most popular questions about the program.
1. How far back can we claim the refund of the customs duties?
Answer: You can claim customs duties paid as far as 4 years ago if your business qualifies.
2. We paid CBSA when we imported goods to Canada. Why don’t we qualify?
Answer: When you import commercial goods to Canada you always pay GST – 5% of its cost (some exceptions apply). GST is a tax and not a customs duty. So if you import goods and pay no duty, there is nothing the government can refund back to you.
3. Is this program only for large multinationals moving containers of goods around?
Answer: No, the businesses of all sizes and industries anywhere in Canada can apply as long as they meet the program qualification criteria.
Do you have any other questions about the customs duty drawback program? or Need help with government funding programs and don’t know where to start or how to prepare an application?
Fill out Eligibility Check form at http://www.fgwinc.ca/
Stay up to date with our calendar of upcoming webinars in March
- FGW and Pemeco webinar: March 9, 12:00pm – “The Road to ERP Success Backed by Grant Funding”
- FGW and Conscious | Asset webinar: March 18, 12:00pm – “Building the Asset Performance Loop Supported by Government Funding”