Source: Canada US
Link: The CBSA Announces New LVS Threshold for Post NAFTA 2.0 Shipments
On April 4, 2020, the Canada Border Services Agency (“CBSA”) published Customs Notice 20-15 “Increase to the Low Value Shipment (LVS) Threshold for Goods Imported into Canada” in which it confirmed that the LVS threshold would increase to CDN $3,300 when the Canada-United States-Mexico Agreement (CUSMA) (also known as NAFTA 2.0 and USMCA) comes into effect. We do not yet know the date that NAFTA 2.0 will come into effect. NAFTA 2.0 has been ratified by Canada.
What we know is that pursuant to NAFTA 2.0, of the effective on the day of coming into force of NAFTA 2.0, the CBSA will increase its LVS thresholds for all commercial importations (in addition to those for express shipments) to an estimated value for duty not exceeding CDN $3,300. References to thresholds in paragraphs 6(1)(a) and (b), 7.1, 7(2.1)(d), paragraphs 8(a), 8.2(d), 10(a) and (b) and section 10.31 of the Accounting for Imported Goods and Payment of Duties Regulations, as well as paragraph 4(c) of the Fees in Respect of Mail Regulations, and subsections 6(4), 9.1(4), 10(4), and 12.1(4) of the Proof of Origin of Imported Goods Regulations will be amended to the higher value.
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