The WTO is designed to help ensure the smooth, free, fair and predictable flow of trade across the borders of its current 134-member countries. A dispute settlement mechanism has been set up under The Agreement Establishing the World Trade Organization to ensure the settlement of disputes through a process of consultation, the establishment of dispute settlement panels, and the adoption of panel reports. The Appellate Body serves an important function in this process, by reviewing the findings issued by the Panels. In addition, the WTO's Trade Policy Review Body conducts a review of the trade policy regimes of the member countries and their impact on the multilateral trading system. Customs Duties In Canada, customs duties are levied on imported goods that are classified under the Schedule to the Customs Tariff in accordance with the Harmonized System of customs classification.
Duties represent the principal tax levied on goods imported into Canada.
Canada's system of custom valuation is based upon the World Trade Organization's Customs Valuation Code and has been implemented into Canada's Customs Act . The transaction value provides the primary valuation method in respect of imported goods. It is the price actually paid or payable for the goods when sold for export to Canada. Downward adjustments include the costs of transportation and storage in Canada and of construction, erection, assembly, maintenance and technical services performed in Canada, and, if the seller is the importer of record, any customs duties and federal sales taxes paid on the importation. SIMA is based upon the World Trade Organization's Anti-Dumping Agreement on Subsidies and Countervailing Measures.