3 unchanged sentences
Canadian Customs Duty Examination
−Removed: In October 2017, the Canada Border Service Agency (“CBSA”) issued a final audit report to G-III Apparel Canada ULC (“G-III Canada”), our wholly-owned subsidiary.
−Removed: The report challenged the valuation used by G-III Canada for certain goods imported into Canada.
−Removed: The period covered by the examination is February 1, 2014 through October 27, 2017, the date of the final report.
−Removed: The CBSA has requested G-III Canada to reassess its customs entries for that period using the price paid or payable by the Canadian retail customers for certain imported goods rather than the price paid by G-III Canada to the vendor.
−Removed: The CBSA has also requested that G-III Canada change the valuation method used to pay duties with respect to goods imported in the future.
−Removed: In March 2018, G-III Canada provided a bond to guarantee payment to the CBSA for the additional duties payable as a result of the reassessment required by the final audit report.
−Removed: We secured a bond in the amount of CAD$26.9 million ($20.9 million) representing customs duty and interest through December 31, 2017 that is claimed to be owed to the CBSA.
−Removed: In March 2018, we amended the duties filed for the month of January 2018 under the new valuation method.
−Removed: This amount was paid to the CBSA.
−Removed: Beginning February 1, 2018, we began paying duties based on the new valuation method.
−Removed: Effective June 1, 2019, G-III commenced paying based on the dutiable value of G-III Canada’s imports based on the pre-audit levels.
−Removed: G-III continued to defer the additional duty paid through the month of May 2019 pending the final outcome of the appeal.
−Removed: G-III Canada, based on the advice of counsel, believes it has positions that support its ability to receive a refund of amounts claimed to be owed to the CBSA on appeal and intends to vigorously contest the findings of the CBSA.
−Removed: G-III Canada filed its appeal with the CBSA in May 2018.
+Added: See “Legal Proceedings” under Note K to Notes to Consolidated Financial Statements” for a description of the Canadian customs duty examination.
MINE SAFETY DISCLOSURES.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.