The Countervailing Duties Act, 2015
The Countervailing Duties Act, 2015 (the “Countervailing Law”) was enacted for giving effect in Pakistan to the provisions of Article VI and XVI of General Agreement on Tariffs and Trade, 1994 and to the Agreement on Subsidies and Countervailing Measure. The Countervailing Law was enacted in order to further strengthen the law relating to imposition of countervailing duties to offset such subsidies, to provide a framework for investigation and determination of such subsidies and injury in respect t of goods imported into Pakistan.
The countervailing duties are imposed where the commission determines that any exporting country pay, directly or indirectly, any subsidy upon the manufacture or production of an investigated product including without limitation to the subsidy in transportation of such product. The Countervailing Law provides the circumstances in which subsidy shall deemed to exist, the mode of investigations and determination of injury.
The Countervailing Law has repealed the Countervailing Duties Ordinance, 2001. The prevalent rules for countervailing duties are Countervailing Duties Rules, 2002 which were made in exercise of the powers conferred under Section 34 of the Countervailing Duties Ordinance, 2001.
