What is the time limit for anti-dumping duty?
The endeavor of the Designated Authority has been to recommend provisional duty immediately after the expiry of the mandatory period of 60 days. The provisional anti-dumping duty is recommended in a period of 60-70 days and levied in a period of about 3 months from the date of initiation of the proceedings.
What is anti-dumping duty Pakistan?
An antidumping duty may be impose if it is established by the investigating authority (National Tariff Commission), after due process, that: A product has been dumped into Pakistan; and. that dumping has caused or threatens to cause injury to Pakistan’s domestic industry.
What are anti-dumping rules?
An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. In the long-term, anti-dumping duties can reduce the international competition of domestic companies producing similar goods.
How do you calculate anti-dumping duties?
Calculation of Normal Value can be done as follows:
- Normal Value = Export price of a product in 3rd Country – Freight and insurance expenses.
- Normal Value = $ 50,000 (CIF Value) – $ 1,000.
- Normal Value = $ 49,000 (FOB Value)
How do you calculate dumping?
Dumping is, in general, a situation of international price discrimination, where the price of a product when sold in the importing country is less than the price of that product in the market of the exporting country. Thus, in the simplest of cases, one identifies dumping simply by comparing prices in two markets.
What is meant by countervailing duty?
Countervailing Duties (CVDs) are tariffs levied on imported goods to offset subsidies made to producers of these goods in the exporting country.
Who pays anti dumping duties?
The antidumping duty law requires “importers of record” to pay the duty because these are the people who submit the paperwork to the U.S. Customs Bureau to import goods into the United States and are considered the responsible party.
Why are there so many anti dumping cases in Pakistan?
Pakistani textiles (yarn, unbleached grey cotton fabric and bed-linen) exports are being increasingly subjected to the initiation of anti-dumping investigations, which creates uncertainty and depresses business sentiment. Investigation periods are quite lengthy and the legal costs of defending against these cases are enormous.
What is the role of National Tariff Commission in Pakistan?
In Pakistan, the National Tariff Commission (“Commission”) is a body responsible for conduction of an antidumping investigation. Once the essential elements for imposition of antidumping duty are determined, after due process, the Commission may impose antidumping duty equal to the dumping margin established.
What is the purpose of anti dumping duty?
Anti dumping is a measure to rectify the situation arising out of the dumping of goods and its trade distortive effect. Thus, the purpose of anti dumping duty is to rectify the trade distortive effect of dumping and re-establish fair trade. The use of anti dumping measure as an instrument of fair competition is permitted by the WTO.