Encyclopedia

Subsidy


3) subsidy - financial assistance provided by the subsidizing authority of a Party's state (or a structure authorized by the state of a Party), resulting in the creation (ensurance) of advantages, and carried out through:
direct transfer of monetary funds (for example, in the form of non-repayable loans, credits or acquisition of a share in the charter capital or its increase, or obligations to transfer such funds (for example, guarantees on loans);
full or partial waiver of payments that should have been received into the revenue of the Party's state (for example, tax benefits, debt write-off). In this regard, exemption of exported goods from duties and taxes levied on similar goods intended for domestic consumption, or reduction of such duties and taxes, or refund of such duties and taxes up to the amount actually incurred, is not considered a subsidy;
provision of goods or services, excluding goods or services intended for maintaining and developing general infrastructure; acquisition of goods;
or any other form of support for revenues or prices that acts, directly or indirectly, to reduce the import of industrial goods from the territory of a state of any of the Parties or increase the export of goods to the territory of a state of any of the Parties, thereby granting an advantage;

Source: Agreement on Uniform Rules for the Granting of Industrial Subsidies

Laws with commentary

Codes and federal laws