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 ?
Imports from CBI Countries by Dutiable Category, 2000-2006 Duty Category: 2000 2001 2002 2003 -Dutiable Value, all 7,778 5,590 5,462 4,902 imports ($ mil) -Calculated Duty 915 578 496 513 ($ thousands) -Average Duty (%) 11.
In its December 2016 ruling, the Supreme Court reversed and set aside the May 13, 2010 ruling issued by the Court of Tax Appeals (CTA), which directed Pilipinas Shell to pay the said amount plus an additional legal interest of six percent per annum on the total dutiable value.
In the second section of the table, note that the dutiable value of total imports has fallen from 35% to 21%, reflecting two trends: final implementation of the WTO Uruguay Round commitments, which shifted some imports from the CBERA to the NTR (other) duty-free category, and more significantly, the implementation of CBTPA for textile and apparel articles.
Customs concluded that, based on the facts presented in Customs Ruling 544436, royalty payments could have been considered dutiable as either royalties or proceeds.
Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possessing, selling and buying illicit cigarettes commits an offence.
Manila, Philippines - After the entry of new collectors in the ports, the Bureau of Customs (BOC) has tapped the services of tariff experts to ensure that dutiable imports are properly classified to improve revenue collections.
The passenger, whose identity has not been revealed, told customs officials he was not carrying any dutiable goods.
1% in the dutiable import during the period under review.
In absolute term it rose by Rs100 billion, but the growth was less than proportionate as the import value of dutiable goods stood at 16.
On 26-01-2011 the Directorate General Intelligence & Investigation-FBR received information that some un-scrupulous importers were involved in import and clearance of miscellaneous dutiable items from BOML (Off-Dock Terminal) through gross misdeclaration / non declaration of description, PCT, quantity and value to evade huge amount of custom duty and other taxes.
Eligible for the duty-free preference under the CBERA are all otherwise dutiable products except import-sensitive articles: textiles and apparel subject to textile agreements, footwear ineligible for the GSP as of January 1, 1984, canned tuna, petroleum and its products, and watches and watch parts containing any material originating in countries denied the most-favored-nation status.
Convergence of the IT and CE industries has resulted in many products being classified into dutiable customs categories.