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MITI's Portal
 

Glossary

Tariff / Duty

Customs duties on merchandise imports. Levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g. $7 per 100 kgs.). Tariffs give price advantage to similar locally-produced goods and raise revenues for the government. [read more]

Tariff Capping

The maximum duty allowed after applying the formula for tariff reduction. [read more]

Tariff Escalation

Low tariffs for raw or unfinished materials, somewhat higher for semi-finished products and highest for finished products. Generally adopted by industrialized countries to restrict import of finished goods from developing countries.  [read more]

Tariff Line

Description of a single product in a national tariff schedule, together with the applicable tariff/duty rate. [read more]

Tariff Peaks

Relatively high tariffs, usually on “sensitive” products, amidst generally low tariff levels. For developed countries, tariffs of 15% and above are generally recognised as “tariff peaks”. [read more]

Tariff Simplification

The conversion of non-ad valorem duties into simple ad-valorem duties. [read more]

The ASEAN Charter

The legal and institutional framework of ASEAN for a mutual interests, common desire, collective will to live in a region of lasting peace, security and stability, principles of democracy, rule of law and good governance, respect and human rights ... [read more]

TPP

Trans-Pacific Partnership [read more]

TPPA

Trans-Pacific Partnership Agreement [read more]

Trade Agreement

Wide ranging tax, tariff and trade treaty that often includes investment guarantees. The most common trade agreements are of the preferential and free trade types are concluded in order to reduce (or eliminate) tariffs, quotas and other trade ... [read more]

Trade Barriers

Measures that governments or public authorities introduce to make imported goods or services less competitive than locally produced goods and services. [read more]

Trade in Services

Refers to cross border services transactions between Malaysia’s residents and non-residents (consistent with BOP statistics). Services could be delivered either with or without cross border physical movement of services suppliers and ... [read more]

Transparency

Trade policies, laws and regulations are publicly available and predictable. [read more]

TRQ

Tariff Rate Quota. Two-stage tariff: imports up to the quota level enter at a lower rate of duty; over-quota imports enter at a higher rate. [read more]

Twin Deficit Hypothesis

The twin deposit hypothesis makes a connection between current account deficit and fiscal deficit. The theory suggests that tax cuts can increase fiscal deficit and results in increased consumption, which will lower the national savings rate. In ... [read more]