Thank you.
Good evening. I'm the director for tariff and trade policy in the international trade and finance branch at the Department of Finance. Before I go into the intent of division 19 and its clauses, I would ask that Mr. Goran Vragovic be invited to appear as well. Mr. Vragovic is the director general for CBSA assessment and revenue management. He will help to assist on any technical questions relating to the amendments in division 19, part 4, of Bill C-30.
Overall, division 19, part 4, amends the Customs Act to make amendments to help to support the modernization of the payment processes of duties and taxes for commercial importers, primarily by establishing an interest-free period as well as a single harmonized billing cycle for monies owed, as opposed to the current terms of the act right now that set payment, interest and other monies owed on the basis of each transaction. As well, one of the amendments is looking to ensure a fair, consistent valuation of imports, importations of goods in Canada, by introducing a new definition in the Customs Act for the term “sold for export to Canada”.
Clause 210 allows importers to correct an import declaration before a deadline without triggering a redetermination that could generate penalties of interest. It effectively amends subsection 32.2(3) of the Customs Act and allows an importer to make an error correction before a certain deadline that will be set, without it being treated as a redetermination under paragraph 59(1)(a) of the Customs Act. The intention of this provision is to encourage more accurate final accounting and improve payment practices by commercial importers.