• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • FR
Background Image
Bennett Jones Logo
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events
New Energy Economy Series Business Law Talks Podcast Economic Outlook
ESG & the CIO Subscribe
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 
Blog

Canadian Customs Authority Shifts Gears on Import Duty Refunds

January 19, 2015

The CBSA has made a long-sought-for change in its policy to allow duty refunds in the event of qualifying downward transfer price adjustments by importers. The change comes on the heels of victory by Bennett Jones in a test case on behalf of a lead applicant/importer that sought refunds based on downward price adjustments for automotive parts inventory.

Despite the major “ and welcome - scope of the policy shift, importers must be aware that duty refunds are not automatic and the CBSA can be expected to test the importer's documentation to verify eligibility for the refund. Furthermore, refunds of duty are generally included in income of an importer for income tax purposes and must be timely reported. Going forward, it will be important for importers to revisit their contemporaneous documentation, including transfer pricing studies, to ensure a uniform approach to income tax and customs transfer pricing that meets the standards of both, not all of which are aligned. Multinationals should also consider the latest CRA guidance as well as international proposals for detailed reporting.  Importers are advised to seek legal counsel to ensure their refund applications are properly documented and their contemporaneous documentation is robust.

For a more complete discussion of this topic, read the update Canadian Importers may now Seek Import Duty Refunds on the Bennett Jones website.

Download PDF

Author

  • Claire M.C. Kennedy Claire M.C. Kennedy, Senior Advisor, Clients and Industries

Bennett Jones Welcomes 10 New Partners

Related Links

  • Insights
  • Media
  • Subscribe

Recent Posts

Blog

Canada's Underused Housing Tax: What You Need to Know Before May 1, 2023

March 23, 2023
       

Blog

Canadian Securities Regulators Announce Increased [...]

March 23, 2023
       

Blog

Unpaid Municipal Taxes Will Impact New AER Licences and Licence Transfers

March 22, 2023
       

Blog

Application of Statutory Bar to Workplace Bullying and Harassment Claims

March 20, 2023
       

Blog

The Current State of Canada's ZEV Market

March 20, 2023
       
Bennett Jones Centennial Footer
Bennett Jones Centennial Footer
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones