Duty

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Duty

A tax on imports, exports, or consumption goods.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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 ?
Summary: New Delhi [India], May 11 (ANI): Bharatiya Janata Party (BJP) leader and party in-Charge of Jammu and Kashmir Ram Madhav on Friday said that as long as there are terrorist activities in the valley, the security forces are duty bound to tackle it with utmost toughness.
It will also place a duty on all schools to provide free sanitary products in toilets, as well as colleges and universities being duty bound to provide them free in campus toilets.
The chain noted: 'As responsible players in the local formal retail sector, we are duty bound to facilitate the recovery of our market peer and we are glad that key suppliers have responded positively.'
"President Michel Aoun and [Foreign Minister] Gebran Bassil represented me regarding Jerusalem," he said, stressing that summit is duty bound to act in that respect.
"In terms of Wales, the situation was that they wanted to see what the evaluation report was like, what the outcome of that was, and they felt duty bound, honour bound to support Gareth Davies who was on the board of RWC and part of the evaluation process.
In this respect, the government is duty bound to provide them all possible facilities, he added.
He said the BBC is "duty bound" to maximise its Bake Off merchandise and the new C4 series, featuring judge Paul Hollywood but not Mary Berry, may be the way to do that.
Other top players have opted to take a strategic break a week out from the final major of the year, but Day is duty bound to appear in Canada due to his partnership with sponsors RBC.
Cellino met with MK Dons boss Karl Robinson and also made an unsuccessful approach for Bristol Rovers' Darrell Clarke, all while Evans remained in position, but the Scot said: "I have always believed that, if you're an owner and have the final say, you're duty bound to put the best man in the chair for the job."
There seems to be a ridiculous assumption that when somebody calls someone else, they are duty bound to answer the call.
McDowall, who took over from Ally McCoist in December was asked if he was duty bound to play them and replied: "Yes".
"The Foreign Ministry believes it is seriously duty bound to legally defend national interests with high sensitivity against enemies' measures in cyber space," the top Iranian diplomat said in a meeting with Head of Iran's Civil Defense Organization General Gholam Reza Jalali on Monday, the Islamic republic news agency reported.