News
For immediate release
May 13th, 2025
Import-Export: key points on customs duties and financial guarantees
In a business environment where unpredictability remains the norm, customs tariffs continue to represent a key issue for organizations. These taxes, levied by governments on goods from abroad, are similar to the sales tax applied to in-store purchases: any item imported into Canada may be subject to duties or taxes.
Imports
As of May 20, 2025, any company wishing to take advantage of the Release Prior to Payment (RPP) program – a mechanism facilitating the entry of goods into Canada – will have to deposit its own financial guarantee in the Contribution and Revenue Management System (CARM).
Two options are available:
1. Written electronic guarantee agreement (customs bond).
2.Electronic cash deposit.
The use of a published financial guarantee by a customs broker will no longer be permitted.
Financial guarantee: challenges and solutions
Setting up a customs bond ensures payment of import duties, taxes and other charges, while keeping day-to-day operations running smoothly. Further information is available at Cautionnement-qc@egr.ca.
About EgR
EgR is a P&C insurance, risk management and surety brokerage firm recognized for its innovative approach and commitment to excellence. Present in Quebec and active across Canada and internationally, EgR helps companies protect their assets and optimize their business and insurance strategies.