TORONTO, Jan. 8, 2013 /CNW/ - Retail Council of Canada (RCC) applauds the federal government for its announcement that it will increase the Low Value Shipment (LVS) threshold to $2,500, and align it with the U.S. threshold.
"Our retail members who import and export smaller values of consumer goods will now benefit from faster clearance through customs," said Diane J. Brisebois, President and CEO, RCC. "This is a win-win for everyone, as retailers will now be able to respond to consumer demands faster."
The LVS threshold impacts all commercial and casual goods entering Canada through the Canada Border Service Agency's commercial processes. The previous threshold for expedited clearance was for goods under $1,600.
Brisebois added that this will help alleviate backlogs, which can cause headaches for retailers. "Today, the market dictates that when a consumer wants a product, it must be supplied immediately, or they will go elsewhere," she said, adding that this change is very welcome news, particularly for small- and mid-sized retail businesses.
"Smaller retailers cannot afford any surprise delays as they result in a loss of business, so this announcement will truly have a positive impact on their bottom line."
Retail Council of Canada (www.retailcouncil.org) is the Voice of Retail. Founded in 1963, RCC is a not-for-profit association which represents more than 45,000 stores of all retail formats, including department, grocery, independent merchants, regional and national specialty chains, and online merchants.
SOURCE Retail Council of Canada