Duty

(redirected from Import Levies)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

References in periodicals archive ?

He does not believe that this issue can be addressed by introducing trade barriers or import levies. "These mechanisms firstly often result in higher costs to the consumer and secondly make the manufacturer or producer fat and lazy.

Consumers need protection

2) The amount of customs security for transit operation shall be determined by the customs so that it covers any import levies chargeable on goods so carried.

Proposed Customs-Protocol

In this context, it has also been agreed that financial guarantees equal to the amount of import levies of Pakistan have to be deposited by authorised brokers, customs clearing agents to check the un-authorised trade and these deposits will be released after the goods exit the country.

APTTA signed; India denied land route to Kabul

In this context, it has also been agreed that financial guarantees equal to the amount of import levies of Pakistan have to be deposited by authorized brokers, custom clearing agents to check the un-authorized trade and these deposits will be released after the goods exit the country.

Pakistan Afghan inked transit trade deal

While most white farmers had more options, such as going to South Africa and bringing goods back, import levies have now made that almost impossible.

The far-sighted father who kept things in perspective; One of Zimbabwe's finest tennis players tells Brian Dick of her sadness at the parlous state of her homeland

Supported by a strong lobby in Swiss parliament, they have succeeded in maintaining sky-high import levies on fruits from the European Union.

Competition hits the isle of high prices: despite the many bilateral treaties between Switzerland and the EU, this country remains an island of high prices. Even if the expensive Euro has dulled the sharpest edges that gouge us, Swiss consumers continue to pay up to double their EU neighbours. Swiss News investigates why

Apart from various political and democratic conditions and further market economic reforms, the EU is particularly concerned about remaining issues relating to an Internal Market and Trade Action Plan designed to create a single economic space: harmonisation of agricultural tariffs; harmonised import levies; and institutional reinforcement of key structures, such as a joint customs office with sufficient executive powers.

EU/SERBIA AND MONTENEGRO: DONORS' MEETING COMES AT CRUCIAL EUROPEAN INTEGRATION JUNCTURE