Import Duties Act 1932(redirected from Import Duties Act)
Import Duties Act 1932
Legislation in the United Kingdom that levied a flat, 10% tariff on nearly all imports. It also gave a commission the ability to alter the tariffs; rates therefore soon rose to 15% and 33% on various products. Some imperial dominions were, for a time, exempt from the bill.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved