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Canada Proposes To Extend Tax Breaks On Imports From Poor Nations

by Mike Godfrey, Tax-News.com, Washington

26 February 2004

Legislation has been introduced into the Canadian parliament that will extend preferential tax rates on imports from developing nations for a further ten years.

The proposals will extend the 'general preferential tariff' which dates back to 1974, and has lowered trade tariffs on goods from 180 countries.

In addition, the amendment will extend the 'least developed country tariff', introduced in 1983, which eliminates duties on goods exported to Canada from 48 of the world’s poorest nations, with the exception of some agricultural products.

The legislative measure will extend these two tariffs to June 30, 2014.

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