Duty

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Duty

A tax on imports, exports, or consumption goods.

Duty

A tax that a country imposes on its imports and, occasionally, exports. A duty exists to make an import more expensive and to thereby encourage people to buy goods produced in their own country. Proponents of their use argue that duties discourage outsourcing of jobs to other countries and make the country more self-sufficient, but most economists agree that they are economically inefficient and some contend that they may ultimately harm the people they are intended to help. A duty is also called a tariff. See also: WTO, International trade, Globalization.

duty

See tariff.
References in periodicals archive ?
According to this picture, any human-rights-based positive duties would be only derivative duties, activated when certain negative duties are violated or at risk of violation.
With these cases in mind, let's look at the fiduciary duties, civil and criminal liability of a board.
Related to those powers are the duties in Probate Code Secs.
For example, an insurer may argue that a self-employed physician is not only a physician, but also a "business owner" and that even if the insured cannot perform medical duties such as surgeries, he still can run his medical business and thus is not totally disabled.
Fortunately, a water-torture light duty program is unnecessary to encourage employees to return to their regular duties.
The reduction as opposed to the elimination of the duties was a result of pressure from the American lumber producers, Buchanan Forest Products CFO Russ York says.
Madam Nighat Mujtaba Haider, DSP/Rural, Traffic will be incharge of route duties from 1900 to 0700 hours.
The deal will scrap EU duties on certain Syrian iron and steel product exports.
The Department of Commerce imposes these duties to remedy injurious unfair foreign trade practices (unfairly low prices or subsidies).
The nature and scope of the duty need to be determined, and conflicting duties must be recognized and acknowledged.
Insurance agents and brokers, for example, have fiduciary duties and corresponding liabilities, as do executors of estates, trustees of organizations, and guardians.
Fiduciary responsibility is a special and important concept for CPAs in tax and financial planning practices, one that is twofold: fiduciary obligations to clients, which go well beyond acting as an executor or trustee, and the significant and profitable role that CPAs can play in helping clients who serve as estate executors or trustees, to fulfill their fiduciary duties.