Customs Tariff — C-54.011 49.5
Application of PT 49.5 (1) Subject to section 24, goods that originate in Peru are entitled to the Peru 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 “PT” in relation to goods entitled to the Peru Tariff, the Peru Tariff rate of customs duty that applies to those goods is the final rate of “Free”. “F” staging for PT (3) If “F” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “PT” in relation to goods entitled to the Peru Tariff, the Peru Tariff rate of customs duty that applies to those goods is the initial rate, reduced as provided in the “F” Staging List. Staging for PT (4) If “R1” or “R2” is set out in the column entitled “Preferential Tariff” in the List of Tariff Provisions following the abbreviation “PT” in relation to goods entitled to the Peru Tariff, the Peru Tariff rate of customs duty that applies to those goods is the initial rate, reduced (a) if “R1” 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, 2010, to one third of the initial rate, and (iii) effective on January 1, 2011, to the final rate of “Free”; and (b) if “R2” is set out, (i) effective on the coming into force of this subsection, to six sevenths of the initial rate, (ii) effective on January 1, 2010, to five sevenths of the initial rate, (iii) effective on January 1, 2011, to four sevenths of the initial rate, (iv) effective on January 1, 2012, to three sevenths of the initial rate, (v) effective on January 1, 2013, to two sevenths of the initial rate, (vi) effective on January 1, 2014, to one seventh of the initial rate, and (vii) effective on January 1, 2015, 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 down to the nearest one tenth of a cent. Rounding of amounts (6) If a reduction under subsection (3) or (4) results in a rate of customs duty that includes a fraction of one per cent other than 0.5, the resulting percentage shall be rounded down to the nearest percentage that divides evenly by 0.5. Elimination of rates of less than two per cent (7) If a reduction under subsection (3) or (4) results in a rate of customs duty that is a percentage of less than two per cent, the rate shall be further reduced to “Free” immediately. Extension of Peru Tariff (8) Notwithstanding any other provision of this Act, for the purposes of giving effect to Article 317 of the Canada–Peru Free Trade Agreement, the Minister may, by order, amend the schedule to extend entitlement to the Peru Tariff to any imported goods subject to any condition that may be specified in the order. Limits on reduction of duty (9) The Governor in Council may, on the recommendation of the Minister, by order, specify limits on the aggregate quantity of goods of tariff item Nos. 1701.91.10, 1701.99.10, 1702.90.21, 1702.90.61, 1702.90.70 and 1702.90.81 that are entitled to the Peru Tariff, and the limits apply during the periods and subject to the conditions that may be specified in the order. 2009, c. 16, s. 42