Import goods to Canada

Import goods to Canada

Import value of the goods

Now that you have established the tariff classification number and the tariff treatment of your imported goods, you need to determine their value for duty.

In most cases, the value for duty is the amount paid to the vendor for the goods. Your declaration of value for duty should be supported by a receipt or sales invoice from your vendor. This document must include a complete description of the goods, the selling price and conditions and terms of the sale. Memorandum D1-4-1, CBSA Invoice Requirements provides additional information. The value for duty must be in Canadian funds.

The Customs Act identifies six legislated methods of valuation. The method applicable to your imported goods is the first method, considered in sequential order, for which all requirements of the method can be satisfied.

For example, most goods are imported to Canada as a result of a sale for export to a purchaser in Canada. The value for duty would be based on the price paid or payable for the goods in that sale, if all the requirements of the transaction value method are met.

For more details on how to determine the value for duty of your shipments, refer to the Memoranda Series D13, Valuation.