Customs Tariff — C-54.011 49.41
Application of PAT 49.41 (1) Subject to section 24, goods that originate in Panama are entitled to the Panama Tariff rates of customs duty. “A” final rate (2) If “A” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “PAT” in relation to goods entitled to the Panama Tariff, the Panama Tariff rate of customs duty that applies to those goods is the final rate of “Free”. “F” staging for PAT (3) If “F” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “PAT” in relation to goods entitled to the Panama Tariff, the Panama Tariff rate of customs duty that applies to those goods is the initial rate, reduced as provided in the “F” Staging List. Staging for PAT (4) If “T1”, “T2” or “T3” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “PAT” in relation to goods entitled to the Panama Tariff, the Panama Tariff rate of customs duty that applies to those goods is the initial rate, reduced (a) if “T1” is set out, (i) effective on the coming into force of this subsection, to two thirds of the initial rate, (ii) effective on January 1 of the year that is one year after the year of the coming into force of this subsection, to one third of the initial rate, and (iii) effective on January 1 of the year that is two years after the year of the coming into force of this subsection, to the final rate of “Free”; (b) if “T2” is set out, (i) effective on the coming into force of this subsection, to four fifths of the initial rate, (ii) effective on January 1 of the year that is one year after the year of the coming into force of this subsection, to three fifths of the initial rate, (iii) effective on January 1 of the year that is two years after the year of the coming into force of this subsection, to two fifths of the initial rate, (iv) effective on January 1 of the year that is three years after the year of the coming into force of this subsection, to one fifth of the initial rate, and (v) effective on January 1 of the year that is four years after the year of the coming into force of this subsection, to the final rate of “Free”; and (c) if “T3” is set out, (i) effective on January 1 of the year that is five years after the year of the coming into force of this subsection, to nine tenths of the initial rate, (ii) effective on January 1 of the year that is six years after the year of the coming into force of this subsection, to eight tenths of the initial rate, (iii) effective on January 1 of the year that is seven years after the year of the coming into force of this subsection, to seven tenths of the initial rate, (iv) effective on January 1 of the year that is eight years after the year of the coming into force of this subsection, to six tenths of the initial rate, (v) effective on January 1 of the year that is nine years after the year of the coming into force of this subsection, to five tenths of the initial rate, (vi) effective on January 1 of the year that is 10 years after the year of the coming into force of this subsection, to four tenths of the initial rate, (vii) effective on January 1 of the year that is 11 years after the year of the coming into force of this subsection, to three tenths of the initial rate, (viii) effective on January 1 of the year that is 12 years after the year of the coming into force of this subsection, to two tenths of the initial rate, (ix) effective on January 1 of the year that is 13 years after the year of the coming into force of this subsection, to one tenth of the initial rate, and (x) effective on January 1 of the year that is 14 years after the year of the coming into force of this subsection, to the final rate of “Free”. Rounding of specific rates (5) If a reduction under subsection (3) or (4) results in a specific rate of customs duty that includes a fraction of one tenth of a cent, the rate shall be rounded dow