Para Tariff

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Para Tariff

An extra fee or tax imposed on a good in addition to the tariff stated on the country's tariff schedule.
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References in periodicals archive ?
The report recommends ending sensitive lists and para tariffs to enable real progress on the South Asia Free Trade Agreement (SAFTA) and calls for a multi-pronged effort to remove non-tariff barriers, focusing on information flows, procedures, and infrastructure.
It identifies four critical barriers to regional trade: tariffs and para tariffs, real and perceived non-tariff barriers, connectivity costs, and a broader trust deficit.
He says these countries impose high para tariffs, which are extra fees or taxes on top of tariffs.
The report recommends ending sensitive lists and para tariffs to enable real progress on SAFTA and calls for a multi-pronged effort to address non-tariff barriers, focusing on information flows, procedures, and infrastructure.
Then there are non-tariff barriers (NTBs) maintained by India such as para tariffs (education cess for example), tariff rate quotas, cumbersome customs clearance and standard compliance procedures, restrictive routes through which merchandise can pass and frequent use of trade defence measures like anti-dumping duty.
'The distortions created by customs duty laws can be corrected by merging all duties including para tariffs, additional customs duties and regulatory duties', said Dr Vaqar, adding that the effective indirect taxes faced by agriculture are still higher in comparison to peer economies.
The specific problems that have emerged are: (a) charges on tariffs and imposing para tariffs from time to time by both countries without adequate notification by both countries.
The preferences include tariffs, para tariffs and non-tariff concessions.
Para tariffs were merged into statutory rates of custom duties, and maximum effective tariff rates reduced from 92 per cent to 70 per cent.
'The distortions created by customs duty laws can be corrected by merging all duties including para tariffs, additional customs duties and regulatory duties', said Dr Vaqar adding that the effective indirect taxes faced by agriculture are still higher in comparison to peer economies.