Contents
Subsidy
Summary of Subsidy
A payment or other emolument prodded by a governmental authority for the purpose of advancing an economic objective defined as being in the public interest. Usually the object is to make available certain goods or services that, in the absence of a subsidy to the supplier, might be so costly as to preclude or seriously circumscribe its use or manufacture.
(Main Author: William J. Miller)
Other Popular Tax Definitions in the World Legal Encyclopedia
- Adjusted Gross Income (sometimes, including Subsidy)
- Ad Valorem Tax (sometimes, including Subsidy)
- Alternative Minimum Tax (sometimes, including Subsidy)
- Big Four (audit firms) (sometimes, including Subsidy)
- Black Market (sometimes, including Subsidy)
- Capital Gain (sometimes, including Subsidy)
- Capital Gains Tax (sometimes, including Subsidy)
- Carbon Tax (sometimes, including Subsidy)
- Church Tax (sometimes, including Subsidy)
- Corporate Tax (sometimes, including Subsidy)
- Corporate Tax (sometimes, including Subsidy)
- Customs (sometimes, including Subsidy)
- Deferred Tax (sometimes, including Subsidy)
- Depreciation (sometimes, including Subsidy)
- Dividend (sometimes, including Subsidy)
- Employer Identification Number (sometimes, including Subsidy)
- Estate Tax (sometimes, including Subsidy)
- Excise (sometimes, including Subsidy)
- Fiscal Policy (sometimes, including Subsidy)
- Fiscal Year (sometimes, including Subsidy)
- Flexible Spending Account (sometimes, including Subsidy)
- Government Spending (sometimes, including Subsidy)
- Gross Income (sometimes, including Subsidy)
- Health Savings Account (sometimes, including Subsidy)
- History of Taxation (sometimes, including Subsidy)
- Income Tax (sometimes, including Subsidy)
- Income tax (sometimes, including Subsidy)
- Income Tax (sometimes, including Subsidy)
- Income Tax Law (sometimes, including Subsidy)
- Indirect Tax (sometimes, including Subsidy)
- Inheritance Tax (sometimes, including Subsidy)
- Offshore Bank (sometimes, including Subsidy)
- Payroll Tax (sometimes, including Subsidy)
- Progressive Tax (sometimes, including Subsidy)
- Property Tax (sometimes, including Subsidy)
- Public Finance (sometimes, including Subsidy)
- Rate Schedule (Federal Income Tax) (sometimes, including Subsidy)
- Real Estate Investment Trust (sometimes, including Subsidy)
- Regressive Tax (sometimes, including Subsidy)
- Sales tax (sometimes, including Subsidy)
- Sales Tax (sometimes, including Subsidy)
- Subsidy (sometimes, including Subsidy)
- Tariff (sometimes, including Subsidy)
- Tax (sometimes, including Subsidy)
- Taxation (sometimes, including Subsidy)
- Taxation and Customs Union (sometimes, including Subsidy)
- Taxation Definition (sometimes, including Subsidy)
- Taxation (in different countries) (sometimes, including Subsidy)
- Taxation in the European Union (sometimes, including Subsidy)
- Taxation Office (sometimes, including Subsidy)
- Taxation Principles (sometimes, including Subsidy)
- Taxation without representation (sometimes, including Subsidy)
- Tax Bracket (sometimes, including Subsidy)
- Tax Code (sometimes, including Subsidy)
- Tax Code (sometimes, including Subsidy)
- Tax Deducted at Source (sometimes, including Subsidy)
- Tax Evasion (sometimes, including Subsidy)
- Tax exemption (sometimes, including Subsidy)
- Tax Forms (sometimes, including Subsidy)
- Tax Haven (sometimes, including Subsidy)
- Tax Law (sometimes, including Subsidy)
- Tax Law Careers (sometimes, including Subsidy)
- Tax Law Jobs (sometimes, including Subsidy)
- Tax Rate (sometimes, including Subsidy)
- Transfer Pricing (sometimes, including Subsidy)
- Types of Taxation (sometimes, including Subsidy)
- Types of Taxes (sometimes, including Subsidy)
- Value Added Tax (sometimes, including Subsidy)
- VAT Identification Number (sometimes, including Subsidy)
- Withholding Tax (sometimes, including Subsidy)
Subsidy and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Subsidy: A payment or economic benefit conferred by a government on a specific industry or enterprise in order to advance an economic objective deemed to be in the public interest. Although escalating use of subsidies may be displacing tariffs as the principal distortion of international trade –as some trade experts assert –there is still no precise definition of the ten “subsidy” in the GATT; seedomestic subsidy and export subsidy.
Net Subsidy Test and the GATT Policy Negotiations
In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Net Subsidy Test: A proposed modification of rules governing application of countervailing duties,whereby an importing country could impose duties on the margin by which export subsidies exceed subsidies provided to producers of competing goods in the importing country.
Concept of Subsidy
Note: explore also the meaning of this legal term in the American Ecyclopedia of Law.
Resources
See Also
- Political Economy
- Public Policy
Resources
See Also
- Social Assistance
- Welfare
- Social Protection
- Social Services
- Social work
Related Entries of the International Encyclopedia:
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- Tariff Rates Column 2 Rates and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Column 2 Rates: US tariff rates assessed on imports from countries not receiving most- favored-nationtreatment. Most [...]...
- Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
- Trade Negotiations Committee Trade Negotiations Committee (TNC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Trade Negotiations Committee (TNC): The steering group established at the outset of the GA 1TUruguay Round (Sec. I) to [...]...
- Conventional Duty A customs duty, or rate of duty, arising out of a treaty or other international agreement, as contrasted with an autonomous duty unilaterally imposed by a government absent of any international agreement.......
- GATT Standing Committee GATT Standing Committee and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of GATT Standing Committee: A permanent body of GATT members dealing with a specific area of trade policy. Includes [...]...
- Grandfather Clause Grandfather Clause and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Grandfather Clause: A provision in the GATT and other trade agreements permitting signatories to retain domestic [...]...
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- Track Track I and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Track I: Designation for consolidated negotiating activities in the final phase of the Uruguay Roundconcerning market access in goods....
- Multilateral Trade Organization Multilateral Trade Organization (MTO) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Multilateral Trade Organization (MTO): A proposed organization that would subsume the GAIT,the General Agreement on [...]...
- Computed Value Computed Value and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Computed Value: (Not to be confused with constructed value.) An alternative method permitted by the Customs Valuation [...]...
- Economic Summit Economic Summit and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Economic Summit: Although the term can be used more generally, its most prominent use is in referring to the annual [...]...
- Protocol of Accession Protocol of Accession and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Protocol of Accession: A legal document that recognizes the rights and obligations agreed to as a consequence of a [...]...
- Customs Classification Customs Classification and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Customs Classification: The determination of the appropriate category in which a traded product is classified for [...]...
- Ministerial Declaration Ministerial Declaration and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Ministerial Declaration: A decision by trade ministers of GATT members to launch a GATT Round of multilateral [...]...
- Nontariff Measures Nontariff Measures (NTMs) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Nontariff Measures (NTMs): A broader term than NTBs, including not only import-restricting barriers but also [...]...
- User Fee User Fee and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of User Fee: A fee for a service --such as the provision of customs operations by the government of the importing country [...]...
- Framework Agreement Framework Agreement and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Framework Agreement: A package of agreements negotiated during the Tokyo Round, dealing with (a) differential and [...]...
- Enabling Clause Enabling Clause and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Enabling Clause: Pan of the 1979 Framework Agreement providing a legal basis in GATT for industrial countries to grant [...]...
- Semiconductor Agreement Semiconductor Agreement and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Semiconductor Agreement: A bilateral agreement concluded in 1986 between the United States and Japan to open the [...]...
- Less-Developed Countries Less-Developed Countries Less-Developed Countries (LDCs) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Less-Developed Countries (LDCs): An alternative term for developing countries. [...]...
- Functioning of the GATT System Functioning of the GATT System (FOGS) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Functioning of the GATT System (FOGS): Designation for a negotiating group in the Uruguay Round [...]...
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- Dutiable Status A determination made by customs authorities, in accordance with the laws of the importing nation, as to whether a given imported article is subject to duty, and if so, at what rate. The dutiable status is determined by classifying the merchandise, i.e., determining into which category the [...]...
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- Concession Summary of Concession An undertaking by one nation to reduce a tariff rate, increase a quota, or otherwise relieve an economic impediment to trade, usually in response to like concessions from trading partners. In addition to such reciprocal concessions, a nation may offer special duty [...]...
- Punta Del Este Declaration Punta del Este Declaration and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Punta del Este Declaration: A declaration adopted by trade ministers of GATT member countries in September [...]...
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- Protocol Relating to Trade Negotiations Among Developing Countries Protocol Relating to Trade Negotiations Among Developing Countries and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Protocol Relating to Trade Negotiations Among Developing Countries: [...]...
- North-South Trade North-South Trade and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of North-South Trade: In the parlance of the 1970s and 1980s, trade between the developed market economies ("the [...]...
- Protocol of Provisional Application Protocol of Provisional Application and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Protocol of Provisional Application: The legal device that enabled the original Contracting Parties [...]...
- Enterprise Enterprise for the Americas Initiative and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Enterprise for the Americas Initiative: A program launched in 1990 as a vehicle for defining a [...]...
- Horizontal Reduction Horizontal Reduction and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Horizontal Reduction: Negotiated cuts in tariff rates by the same percentage for all parties to an agreement. Also [...]...
- Industrialized Countries Industrial Countries or Industrialized Countries and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Industrial Countries or Industrialized Countries: (Also known as developed countries) A [...]...
- Concessions Schedule of Concessions and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Schedule of Concessions: A list of import duties applicable to specific goods which a GATT Contracting Party [...]...
- Assimilation Assimilation and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Assimilation: A term referring to national treatment in the protection of industrial property. SeeParis Convention....
- Normal Value Normal Value and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Normal Value: An alternative term for fair value....
- Call Call and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Call: A request by an importing country for consultations with an exporting country concerning products whose shipments during a [...]...
- Madrid Agreement Madrid Agreement and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Madrid Agreement: Formal name is the Madrid Agreement Concerning the International Registration of Marks. An [...]...
- Pipeline Protection Pipeline Protection and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Pipeline Protection: In international negotiations on protection of intellectual property rights, refers to the [...]...
- Administrative Review Administrative Review and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Administrative Review: In unfair trade cases, a mechanism for parties to a case to appeal a ruling on [...]...
- Export Subsidy Summary of Export Subsidy A direct payment, tax relief, or other incentive provided by a government to encourage export sales. The use of such devices is apt to be regarded as undesirable by the importing nation and may result in the imposition of Countervailing Duties (read this legal term [...]...
- Consumer Subsidy Equivalent Consumer Subsidy Equivalent (CSE) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Consumer Subsidy Equivalent (CSE): The percentage by which consumer prices on an item are affected by [...]...
- Producer Subsidy Equivalent Producer Subsidy Equivalent (PSE) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Producer Subsidy Equivalent (PSE): The share of a producer's total revenue that is attributable to [...]...
- Domestic Subsidy An economic grant provided by a governmental authority to a domestic manufacturer, grower, or producer to increase industrial activity or stimulate output of desired products. Economic incentives may come in the form of direct payments, tax relief, low-interest financing, wage subsidies, or in [...]...
- Job Subsidy Resources See Also Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy Employment...
- Housing Subsidy Resources See Also Housing Housing Discrimination Limited Equity Housing Habitability Urban Development Cooperative Housing...
- Wage Subsidy Resources See Also Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy Employment...
- Employment Subsidy Resources See Also Taxation Public Finance Public Policy Tax Law Financial Regulation...
- Food Subsidy Resources See Also Taxation Public Finance Public Policy Tax Law Financial Regulation...
- Government Subsidy Resources See Also Taxation Public Finance Public Policy Tax Law Financial Regulation...
- Construction Differential Subsidy An economic subsidy offered by the U.S. government to vessel operators to encourage the building of ships in American shipyards. Recognizing that American labor and material costs are generally higher than those in many other countries, Title XI of the Merchant Marine Act of 1936 empowers the Mariti......
- Maritime Subsidy Board A body collateral to the Maritime administration (read this and related legal terms for further details) responsible for reviewing applications for subsidies to U.S. merchant vessel operators to permit competition with l......
- Operating Differential Subsidy A grant provided by the Federal government to U.S. firms that operate American-built vessels over certain prescribed trade routes deemed essential to American commerce. The object of the subsidy is to reduce the net operating costs to American shipping firms so as to permit them to compete against l......
- Service Supply License A validated export license issued by the U.S. government to a U.S. or foreign firm authorizing the export of spare and replacement parts to controlled purchasers abroad who originally purchased American equipment under license.......
- Superdeductive A procedure authorized by U.S. Customs in ascertaining the deductive value of merchandise for assessment of ad valorem duties; deductive valuation is an alternative valuation method specified in the customs valuation agreement (...
- ACP Countries Acp Countries Summary of Acp Countries An acronym for African- Caribbean-Pacific countries. The term originated in conjunction with the LOME CONVENTIONS (read this and related legal terms for further details).(Main Author: William J. Miller) ACP (African, Caribbean, and Pacific) [...]...
- Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
- Blockade Summary of Blockade An interdiction of maritime traffic to and/or from a given port or nation by the naval forces of another nation. Blockades usually arise out of declared war or other belligerent condition between the country whose area is blockaded and the country whose forces have [...]...
- Boycott Summary of Boycott A conspiracy or coalition for the purpose of impeding the commerce of another. Boycotts are often attempts to advance political objectives by economic means and fall into two categories; the primary boycott, in which a party to the boycott refrains from trading with the [...]...
- Codex Alimentarius A document published by the Codex Alimentarius Commission establishing international standards for raw and processed food products. The commission was established in 1963 by the Food and Agriculture Organization in conjunction with the World Health Organization. Member states of either the FAO [...]...
- Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
- Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
- Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
- Compensation Summary of Compensation Trade concessions granted by one nation to another in recompense for other trade concessions that have been withdrawn or suspended.(Main Author: William J. Miller) Forms of Criminal Punishment: Compensation Introduction to Compensation Certain punishments [...]...
- Conference Summary of Conference An association of steamship lines operating over a specific trade route, formed for the purpose of setting freight rates and service standards to be applied uniformly by all the member carriers. The Shipping Act of 1916 empowers the Federal Maritime Commission to [...]...
- Confrontation and Justification A mechanism employed during multinational trade negotiations to define the positions of the various national delegations. Typically, each participating nation submits to its trading partners a statement of views, proposed tariff cuts, et cetera. During a series of meetings each nation is [...]...
- Convention on International Trade in Endangered Species of Flora and Fauna Known commonly by the acronym CITES, a multilateral agreement to suppress international trade in endangered species of wildlife and plants. The convention was signed at Washington in 1973; in 1984, sixty-nine nations were signatories. Adherents to the convention pledge to interdict the [...]...
- Country of Origin For customs tariff purposes, the country in which an imported product was manufactured, grown, or produced. When goods pass through more than one country in the process of manufacture, the country of origin does not change unless the product has been transformed substantially; minor [...]...
- Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
- Customs Valuation For importers, the process of estimating the value of a product at customs presents problems that can be just as serious as the actual duty rate charged. The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes — a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values. The Committee...
- Discrimination Summary of Discrimination Unequal treatment in the duties, quotas, or administrative controls accorded to the products of one or more nations. Generally speaking, any nation which does not enjoy most FAVORED NATION (read this and related legal terms for further details) status is the subject [...]...
- Dumping Margin In those instances where a product has been dumped, that is, sold abroad at a price below the fair market value in the country of origin, the dumping margin is the difference between the home market price and the price at which the goods are sold abroad less incidental charges, such as export [...]...
- Embargo Summary of Embargo A suspension of trade between nations, usually for political reasons. The term embargo is also applied to a governmental edict prohibiting entry or departure from the nation's ports of vessels flying the flag of a particular country. In those cases where ports are closed [...]...
- Exceptions Products specifically exempted from trade liberalization, such as duty reductions; usually, exceptions are made to protect domestic industries that would suffer serious harm from increased imports.......
- Exonerated Cargo Otherwise dutiable merchandise permitted duty-free entry into certain countries in furtherance of a defined governmental policy. Usually such imports are raw materials or unfinished articles not locally available but deemed essential to local industry. The exonerations are, effectively, [...]...
- Export Quota Agreement An arrangement arising under an international commodity agreement whereby each participating exporting nation is allocated a portion of the market. Participating importing nations agree to limit imports from nonmember nations. The object of the system is to maintain price stability, thus [...]...
- Free Trade Area Summary of Free Trade Area An association of states that seeks to overcome impediments to trade among members by reducing or eliminating tariffs among the participants. The members of a free trade area do not maintain a common external tariff nor do they (usually) provide for the free flow [...]...
- Graduation Summary of Graduation The act of recognition by the world community that formerly less developed Countries (read this and related legal terms for further details) have undergone sufficient economic development to be regarded as "developed"or industrialized nations. The recognition [...]...
- Havana Charter Detais can be found in General Agreement on Tariffs and Trade).......
- Industrial Property Summary of Industrial Property Intangible property such as patents and trademarks.(Main Author: William J. Miller) Spanish Translation of industrial property This is the legal translation of English to Spanish in relation to industrial property and / or a definition of this [...]...
- Kyoto Convention An international agreement, sponsored by the Customs cooperation Council (read this and related legal terms for further details), the object of which is to harmonize the methods and procedures of national customs authori......
- Laissez-faire Laissez Faire Summary of Laissez Faire A doctrine that government should refrain from any form of trade regulation, leaving productivity and distribution of wealth purely to market forces and individual industry. The concept arose around the beginning of the eighteenth century in France, [...]...
- Least Developed Countries Summary of Least Developed Countries Those nations suffering the most severe economic and development problems, and requiring substantial and ongoing economic assistance. As a general rule, they are nations with a literacy rate of less than 20 percent and per capita income below two hundred [...]...
- Market Access Summary of Market Access The degree of participation in the domestic market that a nation allows to foreign suppliers. Tariffs, quotas, and similar protective devices are devices imposed to limit market access. (Main Author: William J. Miller) Market Access and National Treatment in the [...]...
- Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
- Marking Duties A special duty, in addition to ordinary duties, imposed upon merchandise not properly marked so as to indicate to the ultimate purchaser the country of origin. Section 304 of the Tariff Act of 1930, as amended, requires that the country-of-origin marking be legible, indelible, and permanent. [...]...
- Nondumping Certificate A seller's certification, either in the form of a separate document or as a notation upon the invoice, that the merchandise described is being sold at a price no lower than that applicable to like sales in the country of origin. The purpose of the certification is to allay concerns of [...]...