Definition
An additional customs duty imposed to offset a subsidy granted by a foreign government on exported goods that injures the domestic industry. In South Africa, ITAC investigates the alleged subsidy and SARS collects the resulting duty once gazetted. It is governed by the WTO Agreement on Subsidies and Countervailing Measures.
Frequently asked questions
What is Countervailing Duty?
An additional customs duty imposed to offset a subsidy granted by a foreign government on exported goods that injures the domestic industry. In South Africa, ITAC investigates the alleged subsidy and SARS collects the resulting duty once gazetted. It is governed by the WTO Agreement on Subsidies and Countervailing Measures.
Which glossary terms are related to Countervailing Duty?
Countervailing Duty is a customs & sars term in the South African import/export industry. Related terms in the same area include 70707070 (Customs Code), Ad Valorem Duty, AEO (Authorised Economic Operator), Anti-Dumping Duty, B-BBEE (Broad-Based Black Economic Empowerment) — each has its own plain-English definition in the TradeCaravan glossary.