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Low Value Shipment (LVS) (Customs Glossary): Difference between revisions
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The Low Value Shipment (LVS) program, administered by the Canada Border Services Agency (CBSA), is an initiative aimed at streamlining the customs clearance process for low-value shipments entering Canada. Under this program, eligible shipments with a declared value below a specified threshold can benefit from simplified customs procedures, leading to faster and more cost-effective cross-border trade. This article defines the Low Value Shipment program with CBSA, explores its usage scenarios, and outlines the requirements for businesses engaged in cross-border trade. | {{note|This article is part of the [[Customs_Glossary_Guide|Customs Glossary Guide]]|info}} | ||
[[Image:Courier-lvs-boxes.png|360px|right|thumb|A usual shipment of boxes found in a '''Courier LVS''' shipment]]The Low Value Shipment (LVS) program, administered by the Canada Border Services Agency (CBSA), is an initiative aimed at streamlining the customs clearance process for low-value shipments entering Canada. Under this program, eligible shipments with a declared value below a specified threshold can benefit from simplified customs procedures, leading to faster and more cost-effective cross-border trade. This article defines the Low Value Shipment program with CBSA, explores its usage scenarios, and outlines the requirements for businesses engaged in cross-border trade. | |||
== What is the Low Value Shipment Program with Canada Border Services Agency? == | == What is the Low Value Shipment Program with Canada Border Services Agency? == | ||
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The Low Value Shipment program introduced by the Canada Border Services Agency offers a significant advantage to businesses involved in cross-border trade. By simplifying customs procedures for low-value shipments, the program enables businesses to reduce administrative burdens, expedite delivery, and enhance the overall efficiency of international trade. To benefit from the LVS program, businesses must meet the eligibility criteria and adhere to the simplified customs documentation requirements while ensuring compliance with applicable tax regulations for their shipments to Canada. | The Low Value Shipment program introduced by the Canada Border Services Agency offers a significant advantage to businesses involved in cross-border trade. By simplifying customs procedures for low-value shipments, the program enables businesses to reduce administrative burdens, expedite delivery, and enhance the overall efficiency of international trade. To benefit from the LVS program, businesses must meet the eligibility criteria and adhere to the simplified customs documentation requirements while ensuring compliance with applicable tax regulations for their shipments to Canada. | ||
== Usage in BorderConnect == | |||
[[Category:Customs Glossary Guide]] | |||