CARM – An Introduction
CARM is an acronym for CBSA Assessment and Revenue Management and is a multi-year initiative that will transform and modernize the payment process for remittance of duties and taxes to Canada Revenue Agency. As one of the largest collectors of revenue for the government of Canada, CBSA has undertaken this initiative to sustain Canada’s competitive advantage in trade. This will result in the creation of an online portal accessible 24 hours a day, 7 days a week.
Once CARM is released it will allow importers to;
- Use online tools to classify goods, and calculate duties and taxes
- Submit e-declarations
- Make e-payments and view up-to-date account information
- Become paperless by default
and once fully implemented, CARM will;
- Make it easier for businesses to work with Canada Border Services Agency
- Improve consistency in applying trade rules and decisions
- Reduce repetitive information requirements