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 ?
The measures require that the rent ratio and the commission level of the duty-free shops at the exit of the port be reasonably regulated, so as to avoid the one-sided pursuit of the price is high.
'We are unsure whether it's the entire island that will be declared duty-free or if there will be a specific complex selling duty-free items,' he said when met here recently.
We believe that our 27 years of expertise in this area will help to ensure travellers at the new Passenger Terminal Building will enjoy a first-class duty-free experience."
Perfume Viktor + Rolf Flowerbomb EDP 100ml Duty-free price: PS78.85 High-street price: PS98.50 Winner: Duty-free, waiting to buy this perfume at the airport will save you PS19.65.
Khripunov also added that it would be a reciprocal trade arrangement, approving duty-free import of certain Russian-made cars to Serbia in exchange for duty-free export of Fiat cars from Serbia to Russia.
She refused to serve me and several others but when we were airborne the stewardesses came round asking if anybody wanted duty-free goods.
High street: PS44.50 Duty-free: PS37.05 SAVE: PS7.45
High street: PS62 Duty-free: PS49.70 SAVE: PS12.30 Swarovski Edition EDT (50ml).
Upon learning of the proposed amendments, some GERB MPs immediately dismissed the idea as impossible, saying that a resumption of duty-free trade plus preferential treatment for the operators was simply "overdoing it".
The company said that the agreement will run for ten years from the date of the opening of Terminal 3's duty-free facilities, expected to take place during the second half of 2007.
Fliers become even bigger buyers at duty-free shops.
Both enter South America legally through Zofri, a duty-free zone in Iquique, Chile, near the Peruvian border.