Accounting for Imported Goods and Payment of Duties Regulations

10.3 (1) Every CSA importer shall choose one of the following periods for the purposes of accounting for commercial goods that have been released under subsection 32(2) of the Act:

• (a) the period beginning on the first day of a month and ending on the last day of the month; or

• (b) the period beginning on the 19th day of a month and ending on the 18th day of the following month.

(2) A CSA importer who chooses the period set out in paragraph (1)(a) shall account for goods released in that period by the 18th day of the month following the month in which the goods were released.

(3) A CSA importer who chooses the period set out in paragraph (1)(b) shall account for goods released in that period by the last business day of the month in which that period ends.

(4) After a CSA importer accounts for goods using a period set out in paragraph (1)(a) or (b), the CSA importer shall use the same period to account for any other commercial goods that are released under subsection 32(2) of the Act.