May 4, 2016, No. 2016-26. This publication highlights three recent trade and customs developments in Canada that may present savings opportunities and help your business manage compliance risks.
Canadian manufacturers of food products may realize savings following government consultations to consider eliminating Most Favoured Nation (MFN) duty rates on certain tariff items for goods used in agri-food processing. These consultations follow the government's 2016 federal budget announcement that it would review tariffs on certain manufacturing inputs that attract import duty. Interested parties can submit their views on the proposed MFN tariff elimination in writing by June 21, 2016.
According to the government, eliminating tariffs on these proposed goods will reduce production costs for Canadian industry and enhance competitiveness. The government says it may also consider other tariff items not already identified for further tariff elimination initiatives to assist Canadian Industry.
Download this edition of the TaxNewsFlash to learn more.
Information is current to May 3, 2016. The information contained in this TaxNewsFlash-Canada is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation