Marginal note:Interest
33.4 (1) Subject to the regulations, any person who is liable to pay an amount of duties in respect of imported goods shall pay, in addition to the amount, interest at the specified rate, calculated on the outstanding balance of the amount,
(a) in the case of goods released prior to the accounting required under subsection 32(1), for the period beginning on the day after the prescribed day and ending on the day on which the amount has been paid in full; and
(b) in the case of all other goods, for the period beginning on the day after the day on which the person became liable to pay the amount and ending on the day on which the amount has been paid in full.
Marginal note:Restriction — prescribed day
(2) The prescribed day referred to in paragraph (1)(a) falls
(a) at the earliest, on the 12th day after the end of the period that begins on the 18th day of a month and ends on the 17th day of the following month and that includes the earlier of
(i) the day on which the goods in question are accounted for, and
(ii) the last day on which those goods are required to be accounted for; and
(b) at the latest, on the 18th day after the end of the period referred to in paragraph (a).
Marginal note:Regulations — interest-free period
(3) The Governor in Council may, on the recommendation of the Minister of Finance, make regulations respecting the circumstances and conditions under which any person who is liable to pay an amount of duties in respect of imported goods is not liable to pay interest on that amount for the period specified in the regulations.
- 1992, c. 28, s. 7
- 1994, c. 47, s. 70
- 1995, c. 41, s. 9
- 1997, c. 36, s. 154
- 2001, c. 25, s. 26
- 2021, c. 23, s. 210
- Date modified: