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CBSA celebrates International Customs Day

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OTTAWA:  Today, along with its customs and border management partners around the world, the Canada Border Services Agency (CBSA) celebrates International Customs Day. Guided by the World Customs Organization (WCO) under a new theme each year, this tradition provides a great opportunity to recognize the outstanding work carried out each day by CBSA employees across Canada. The WCO is dedicating 2018 to ... Read More »

Canada to champion free trade access for stymied firms

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OTTAWA: The Canadian Government is asking exporters to report any tax and non-tax trade barriers holding back their businesses. The Government has launched a new webpage for Canadian firms to report information about the barriers they face. The Canadian Trade Commissioner Service and partner departments will then work with them to address these barriers. Businesses will be asked to provide ... Read More »

Air Canada: Intl, US routes represent 68% of total revenue

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OTTAWA:Air Canada SVP of financial planning and analysis Amos Kazzaz stated (24-Jan-2018) more than 90% of the carrier’s growth was directed at US and international markets in 2017, as it increased international-to-international connecting traffic through major Canadian hubs. Mr Kazzaz noted its network diversification strategy lowers overall risk, with international and US routes now representing 68% of total passenger revenue. Air Canada expects its rate of capacity growth to ... Read More »

Canada exports four times the number of Japanese-brand cars it imports

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ONTARIO: Close to half of the new vehicles built in Canada in 2017 were from Japanese brands like Honda and Toyota, according to a recent press release from an association made up of those companies. Their total output combined to top one million units for the second consecutive year, reports the Japan Automobile Manufacturers Association of Canada (JAMA Canada), or about 46 percent ... Read More »

Plaisance woman jailed over bid to smuggle cocaine to Canada

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OTTAWA: Andrea Paula Winfield, a Plaisance woman who had been intercepted while trying to smuggle just over five pounds of cocaine aboard a flight to Canada, was yesterday sentenced to three years in jail after she was found guilty of the crime. Winfield was also fined $3.8 million for the offence, which was committed at the Cheddi Jagan International Airport ... Read More »

Canada initiates NAFTA mechanism against U.S. import duties

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OTTAWA: Canada on Friday filed a request for panel review within the framework of the North American Free Trade Agreement (NAFTA) over the U.S. decision to impose duties on imports of Bombardier jet airliners, the Canadian Foreign Ministry said Friday. The move is against the U.S. plan to impose duty rates of nearly 300 percent on future imports of the ... Read More »

Canada takes US to WTO in vast trade complaint

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OTTAWA: Canada has launched a vast dispute against its southern neighbour before the World Trade Organisation, accusing Washington of breaching dozens of international trade rules, according to a document published on Wednesday. In a filing to the WTO dated December 20, but only published on Wednesday, Canada requested so-called “consultations” with the United States over its use of anti-dumping and ... Read More »

Canada, US square off over trade remedies

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OTTAWA: The sometimes chilly relationship between the U.S. and Canada just dropped a few degrees with a new Canadian complaint to the World Trade Organization that parts of the U.S. system for international trade remedies are unfair. The two countries, already at loggerheads over Canada’s dairy supply management system and softwood lumber subsidies, appear ready to face off in the WTO over ... Read More »

Canada eases tax filing for low-income taxpayers

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OTTAWA: The Canada Revenue Agency (CRA) on January 8, 2018, announced measures to ease the compliance burden for low-income Canadian taxpayers filing income tax and benefit returns. The changes include the launch of a new automated telephone filing service called File my Return. Over 950,000 eligible individuals with low income or a fixed income that is unchanged year-to-year will be ... Read More »

Canada Revenue Agency tweaks tax return process

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OTTAWA: The Canada Revenue Agency (CRA) announced Monday that it is changing the way thousands of citizens will file their tax and benefit returns this year. About 950,000 Canadians with low or fixed incomes will be eligible for the CRA’s new “File my Return” automated service, Minister of National Revenue Diane Lebouthillier, explained in a press release. The individuals will be able to file their tax ... Read More »

Police warns of Canada Revenue Agency phone scam

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OTTAWA: The Thunder Bay Police are once again getting a high number of calls from the public to report concerns about receiving calls from Revenue Canada about unpaid taxes that must be paid immediately or a warrant will be issue for arrest. This sense of urgency should be the first clue and send up huge red flags that a fraudster ... Read More »

Canada’s trade deficit unexpectedly grew to $2.5b in November as imports jump

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OTTAWA: Canada’s trade deficit grew to $2.5 billion in November, driven by the strongest growth in imports since July 2009, Statistics Canada said Friday. The November trade gap figure widened from the $1.6 billion deficit seen in October. RBC assistant chief economist Paul Ferley in a commentary that November’s trade figure was a surprise, as expectations had been for the deficit to shrink to $1.1 ... Read More »

Price gap between Canadian crude, U.S. oil could shrink in 2018, Deloitte says

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OTTAWA: Bottlenecks into the U.S. market are still exacerbating the price gap between Canadian oil and West Texas Intermediate (WTI), even as strong global demand is expected to elevate overall crude prices in 2018, according to a forecast released Thursday by Deloitte. But Deloitte’s Resource Evaluation and Advisory (REA) group is optimistic that demand for heavy Alberta crude will rise as ... Read More »

Vancouver musician arrested for smuggling $7m of drugs in guitar case

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VANCOUVER: A Vancouver musician could be facing serious jail time in Japan after being accused of trying to smuggle almost 10 kilograms of drugs into the country. Daniel Whitmore, 44, was arrested on Dec. 11 at Narita International Airport for allegedly smuggling stimulant drugs with a street value of more than $7 million. The drugs were allegedly concealed in a ... Read More »

Canadian newsprint makers fear U.S. about to slap duties on its exports

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OTTAWA: The ongoing softwood dispute with the United States may not be hurting Canada much yet, but the industry is bracing for a new trade battle with the U.S. that could take a bite out of a part of the sector that is already facing sharp declines. Derek Nighbor, chief executive of the Forest Products Association of Canada, says heading ... Read More »

Canadian gov’t promotes small business tax cut

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OTTAWA: The upcoming 0.5 percent cut to the Canadian small business tax rate will save SMEs up to CAD7,500 (USD5,699) in federal taxes a year, the Finance Department has said. The Government has proposed reducing the small business corporate tax rate from 10.5 percent to 10 percent, effective January 1, 2018. This is intended as a first step toward lowering ... Read More »

Canada crude-by-rail exports to us rise to 6 month high

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OTTAWA: Canadian crude-by-rail exports to the U.S. climbed to a six-month high of 137,000 barrels per day in October, data from the National Energy Board showed on Dec.29, the latest sign that tight pipeline capacity is pushing more oil onto railroads. October was the third straight month in which rail exports climbed. Volumes rose 2% from September, but were up ... Read More »

Revenue Canada gets court order to force PayPal to hand over account details

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OTTAWA: The Federal Court of Canada has ordered U.S.-based PayPal to hand over details about its business account customers to Canadian tax authorities. The court order, obtained by the Canada Revenue Agency, forces the U.S.-based payment processing firm to release information about Canadians with PayPal business accounts who processed transactions between the start of 2014 and last Friday. PayPal must hand over the names, dates ... Read More »

Canadian approval of preclearance encourages rail travelers

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OTTAWA: Earlier this month, Canadian officials approved a preclearance agreement that expands the ability of border agents from the U.S. and Canada to collaborate. It’s also expected to accelerate passenger rail crossings at the border. In December 2016, President Obama signed a bill approving expansion of preclearance procedures between the U.S and Canada. But, it was not until this month ... Read More »

Canada reports buoyant revenue growth

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OTTAWA: Canadian tax revenues were up 4.8 percent for the first seven months of 2017, according to the Government’s latest Fiscal Monitor. The Canadian budget deficit has fallen. It was CAD6.3bn during the April to October period, compared with CAD9.3bn in the same period during the 2016-17 fiscal year. Both personal and corporate income tax revenues performed strongly, up 5.4 ... Read More »