Exchange Rate for the Calculation of the Value for Duty Under theCustoms ActMemorandum D13-2-3

Ottawa, February 25, 2014 This document is also available inPDF (35 KB)[help with PDF files] The editing revisions made in this memorandum do not affect or change any of the existing policies or procedures. This memorandum provides information concerning the date to be used for currency conversion in the calculation of the value for duty of imported goods.

Section 55 of theCustoms Act,Currency ActandCurrency Exchange for Customs Valuation Regulations.

1.   Section 55 of theCustoms Actprovides that the value for duty of imported goods shall be computed in Canadian currency in accordance with regulations made under theCurrency Act. 2.   The rate of exchange to be used to convert the value for duty of imported goods from a foreign currency into Canadian currency shall be the Bank of Canada rate prevailing on the date of direct shipment of the goods to Canada. For more information on the date of direct shipment, refer toMemorandum D13-3-4,Place of Direct Shipment. 3.   Information on the applicable prevailing rate of exchange can be found in theCurrency Exchange for Customs Valuation Regulations.

4.   For more information, call contact theCBSABorder Information Service(BIS):Calls within Canada & the United States (toll free):1-800-461-9999Calls outside Canada & the United States (long distance charges apply):1-204-983-3550 or 1-506-636-5064 TTY:1-866-335-3237 Contact Us online(webform)Contact Usat theCBSAwebsite