On 27 May 2023 the Canada Border Services Agency introduced amendments to the Valuation for Duty Regulations, which will alter existing Canadian customs valuation rules. The amendments intend to clarify the “sale” used to establish the value for duty under the transaction value method for all goods imported into Canada.
On 13 June 2023, Canada announced amendments to the Special Economic Measures (Haiti) Regulations in response to “acts of significant corruption.” These amendments list an additional two individuals under the Schedule of the Regulations and took effect on 13 June 2023.
Baker McKenzie’s Sanctions Blog published the alert titled Canada Announces Additional Sanctions in Response to Theft of Ukrainian Cultural Objects and Seizes Russian Cargo Aircraft on 16 June 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
The Canadian Competition Act was recently amended to, among other things, criminalize wage-fixing and no-poach agreements between unaffiliated employers. Following a one-year grace period that permitted Canadian employers to ensure they are in compliance, the criminal prohibition will come into effect on 23 June 2023.
Consumers and investors alike are increasingly shifting their focus towards both “green” products and investments in sustainable businesses and those with aspirational environmental and climate goals. Since environmental and sustainability claims have become ever more powerful marketing tools, they are also increasingly vulnerable to complaints of “greenwashing” — the practice of overstating the environmental characteristics or benefits of a company or a product.
Baker McKenzie’s Sanctions Blog published the alert titled Canada Enacts Sanctions Against Moldova on 2 June 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 27 May 2023 the Canada Border Services Agency introduced amendments to the Valuation for Duty Regulations, which will alter existing Canadian customs valuation rules. The Amendments intend to clarify the “sale” used to establish the value for duty under the transaction value method for all goods imported into Canada. Effectively, the Amendments propose a “last sale” approach to customs valuation, which has the potential to increase the declared value for duty of imported goods, directly increasing duties and taxes owing, and indirectly increasing the cost of doing business in Canada.
Baker McKenzie’s Sanctions Blog published the alert titled Canada Announces Additional Sanctions in Relation to Russia and Updates Guidance on Sanctions Evasion on 24 May 2023. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 3 April 2023, significant amendments to the Canadian Securities Exchange listing policies came into force. Notably, the amendments are comprehensive in that they revise each of the CSE’s ten policies and create greater consistency between the policies of the CSE and other Canadian stock exchanges such as the Toronto Stock Exchange and the TSX Venture Exchange.
On 3 May 2023, Canada announced further amendments to the Special Economic Measures (Iran) Regulations in response to Iran’s “gross and systematic human rights violations in Iran and abroad.” These amendments list an additional nine individuals and one entity under Schedule 1 of the Regulations and entered into force on 28 April 2023.