Business Terms and Jargon Explained

What is Customs Duties

This is a tax on goods that are imported into a country. Goods that are brought into the country can interfere with the supply of that goods, also it gives rise to competition with the domestic goods of a similar nature. Custom duties is charge to reduce the incentive for certain goods to be brought into the country.

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Term created / updated 2006-05-20 07:52:35

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