Navigating complex customs and cross-border issues for your business
The customs and global trade landscape is complex and keeping up with everchanging regulations and requirements can be challenging. Our experienced advisors can support your business with cross-border trade by gaining a full understanding of your objectives and guiding you through important considerations.
We understand the many challenges that your business may face with customs and global trade, such as complying with the Canada Border Service Agency’s (CBSA) rules and regulations, navigating supply chains, managing costs, and understanding tariff classifications. We’re here to help.
We’ve got you covered
Customs audit support – Our customs and global trade advisors can help your business navigate a CBSA audit. If your company is under a trade compliance verification, we can guide you through the process to provide the best possible outcome for your business.
Supply chain planning – We’re here to help you proactively manage costs, understand restrictions, and mitigate risk in the planning stages of your trade transactions. Our experienced advisors can support your supply chain strategy to help minimize unexpected challenges when you’re preparing to receive your goods, so you can focus your attention on sourcing and other important parts of your business.
Harmonized tariff system classification – Our team can help your business avoid duty overpayment or penalties by advising on the correct classification of goods and how sourcing from different locations could affect your bottom line. We’re available to help you navigate the Harmonized Tariff System, (HTS) as well as the rules and regulations from varying jurisdictions so that you can be confident when declaring the correct classifications to the respective customs authorities.
Free trade agreement qualification – Our advisors have the experience to understand how the frequent changes to Canada’s Free Trade Agreements could affect your business transactions. We’re able to analyze and qualify existing goods or provide you with a roadmap to help ensure your goods qualify before manufacture.
Customs valuation – Nuances in customs valuation legislation are not always intuitive, and how you determine the value of goods for duty can vary depending on the structure of your transaction. If you work with a cross-border partner, including a related party, our team can support you in managing risk.
Export controls – Growing your business is exciting but navigating export controls can be complex. We can guide you through the regulations so you can plan ahead and manage your expectations early.
Duty deferral and recovery programs – Our experienced advisors can explore the programs available to determine if you qualify for duty deferral or duty recovery. Whether you’re looking to leverage existing programs, or apply for duty deferral specific to your situation, we’re here for you and your business.
Personal imports – Whether you’re looking to make a large purchase abroad, move your household to Canada, or bring gifts across the border, our team can help you understand the CBSA’s approach to personal transactions and navigate complex customs regulations.
Integrated services – Our collaborative tax advisors provide well-rounded and thorough advice specific to your unique situation. The depth and breadth of experience in our team spans everything from transfer pricing, tax planning, indirect taxes, international taxes, and beyond.
Please reach out to your Grant Thornton advisor if you’d like to learn more or contact us here.
