| Import tariff reductions on machinery and equipment |
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(Ottawa, January 30, 2009)… With the passing of the Federal Budget on January 28, 2009, import tariffs have been eliminated on a wide range of machinery and equipment. The duty reductions are effective for goods imported on or after January 28, 2009, and apply to 214 tariff classifications. Of the 214 affected tariffs, 138 have new classification numbers, the balance remain the same.
Recognizing that these tariff reductions are a crucial benefit for our clients, our Customs Consulting group is working to implement these changes immediately so you can reap the savings. This involves updating your import database (Client Tariff Resume), which can be viewed on-line at any time with our Inside Trac service.
The full list of tariff provisions can be found in "Annex 5 Notice of Ways and Means Motion to Amend the Income Tax Act" at www.budget.gc.ca/2009/plan/bpa5b-eng.asp.
Another key change involves many food tariff classifications, which have been altered to differentiate "organic" and "non-organic" imports. The duty on these items remains the same.
For further information please call 905-882-4880 and ask for Brian Rowe, General Manager – Customs Consulting Services.
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