Imported Goods Records Regulations

3.1 For the purposes of subsection 40(3) of the Act, commercial goods are the prescribed goods and every person who is required to keep records under that subsection shall

• (a) where the person has been issued a licence under section 24 of the Act for the operation of a place as a sufferance warehouse, keep all records that contain information concerning the receipt of commercial goods into it, and the removal of those commercial goods from it, for the period of six years after the receipt of the commercial goods into it;

• (b) where the person has been issued a licence under section 24 of the Act for the operation of a place as a duty free shop, keep all records that relate to commercial goods received into it, for the period of six years after the sale or other disposal of those commercial goods, including all records that contain information concerning

  • (i) the accounting for the commercial goods,

  • (ii) the sale or disposal of the commercial goods from the duty free shop,

  • (iii) the actual selling price of the commercial goods in the duty free shop and the manufacturer’s suggested retail price,

  • (iv) the amount that the person paid for the commercial goods,

  • (v) the control of inventory in the duty free shop,

  • (vi) the composition of the inventory in the duty free shop,

  • (vii) the remittance of fees to the Department of National Revenue, or

  • (viii) the size of the display area allocated in the duty free shop to the commercial goods;

• (c) where the person has been issued a licence under subsection 91(1) of the Customs Tariff for the operation of a bonded warehouse, keep all records that relate to commercial goods received into it and commercial goods removed from it, for the period of six years after their removal, including all records that contain information

  • (i) describing the commercial goods when they are received into or exported from the bonded warehouse,

  • (ii) accounting for the commercial goods when they are removed from the bonded warehouse,

  • (iii) concerning inventory and the transactions that occur while the commercial goods are in the bonded warehouse,

  • (iv) concerning the transfer of ownership in respect of the commercial goods,

  • (v) concerning the transfer of the commercial goods to another bonded warehouse, to a sufferance warehouse or to a duty free shop, or

  • (vi) concerning the unpacking, packing, manipulation or alteration of the commercial goods, or any combining of those commercial goods with other goods; and

• (d) where the person has been issued a certificate under subsection 90(1) of the Customs Tariff, keep all records that relate to commercial goods in respect of which relief from the payment of duties has been granted under section 89 of that Act, for the period of six years after the relief is granted, including all records that contain information concerning

  • (i) the importation of the commercial goods,

  • (ii) the processing in Canada of the commercial goods,

  • (iii) the amount of relief granted on the commercial goods,

  • (iv) the sale or transfer, between persons to whom certificates have been issued, of the commercial goods,

  • (v) the payment, under subsection 118(1) of the Customs Tariff, of an amount equal to the amount of the duties on any of the commercial goods that have been transferred, sold or disposed of, or

  • (vi) the inventory in Canada of the commercial goods.