- September 14, 2020
- Posted by: admin
This depends on the bound rate of the tariff code. A bound rate is the maximum duty that can be imposed on a tariff code. Bound rates were agreed when South Africa joined the World Trade Organization in 1995. A duty cannot be increased beyond the bound rate because it will be a violation of the General Agreement on Tariffs and Trade. However, if the product is classified in an unbound tariff code, any level of duty can be imposed.