General Agreement On Tariffs And Trade 1994

Territorial application – Border traffic – Customs Union and free trade zones A fair comparison between export price and normal value must be established. This comparison is made at the same commercial level, usually from the factory, and for sales made at the same time as possible. In any event, differences in price comparability, including differences in terms and conditions of sale, taxation, level of trade, quantities, physical characteristics and all other differences that are proven to also affect price comparability, are duly taken into account (7). In the cases covered by paragraph 3, costs, including customs duties and taxes applicable between import and resale, as well as the profits generated, should also be taken into account. Where, in these cases, price comparability has been affected, the authorities set the normal value at a level of exchange equal to the level of the calculated export price, or grant appropriate consideration, as this paragraph justifies. The authorities tell the parties concerned what information is needed to ensure a fair comparison and do not impose an inappropriate burden of proof on those parties. (e) This exemption does not affect solutions relating to specific aspects of the legislation subject to this exemption, negotiated in sectoral agreements or in other bodies. In addition to facilitating applied tariff reductions, GATT`s contribution to trade liberalization includes “the commitment of extended-term tariff reductions (which became more sustainable in 1955), the definition of universality of non-discrimination through the treatment of the most favoured nation (MFN) and the status of domestic treatment, ensuring greater transparency in trade policies and creating a forum for negotiations and the peaceful settlement of bilateral disputes. All of these have helped to streamline trade policy and reduce trade barriers and political uncertainty. [4] ACCORD ON ARTICLE VI OF THE GENERAL ACCORD ON TARIFS AND TRADE 1994 The assessment of the general impact of applicable duties and taxes before and after the establishment of a customs union, subject to Article 5, point a), of Article XXIV, is based on a comprehensive assessment of the

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