Search results for keyword: levy
Incoterms 2000
International Trade Terms Explanation
International trade is a process that involves the movement of goods and services across different countries. In such a vast and complex area, it is important to have clear and consistent terminology to ensure that the trading process runs smoothly. This arti......
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bonded storage place
Bonded Storage
Bonded storage is a port warehouse where imported goods are stored until customs duties and taxes have been paid or goods have been re-exported or have been re-imported. This warehouse is supervised by official duty and held in trust by a customs official.
As goods enter a bonded ......
fiscal tariff
Fiscal Tariff
A fiscal tariff is a tax or duty imposed by a government in order to raise revenue. In general, a fiscal tariff is a way for a government to levy taxes which may be used for public works, national defense, and other state needs.
In the modern world, fiscal tariffs have seen increas......
International Double Taxation
Double Taxation
Double taxation is a tax principle referring to income taxes paid twice on the same source of income. It can occur when income is taxed at both the corporate level and personal level. Double taxation also occurs in international trade or investment when the same income is taxed in ......
Anti-dumping
Anti-dumping
An anti-dumping measure is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Governments use anti-dumping duties to level the playing field for domestic producers. The purpose of the anti-dumping tariff i......
Anti-dumping duties
Introduction
The aim of this paper is to analyze the concept of anti-dumping duty. Dumping is a practice of large international corporations whereby goods are exported to another country at a price lower than the cost of production. This practice harms local companies and industries as it makes i......
transit tariff
Passing Through Customs Duties
The international trade of goods and services has propelled the economy and livelihood of many countries around the world. As different countries have different laws, regulations, and taxes, understanding and navigating the customs duties that are associated with d......
ad valorem tariff
Tariffs
Tariffs are taxes implemented by governments and their agencies on imported goods and services. The purpose of levying tariffs is to protect domestic industries and jobs, to generate additional income for the government, and to affect the pricing of certain goods and services.
The use of......
Explanation of tax terms
Tax Terminology Definition
Tax terminology can be a confusing subject for most people, especially those who are unfamiliar with the nuanced terms used within the field. Tax terminology is necessary to understand not just the basic laws surrounding taxation, but the deeper implications of each and......
income tax
International trade has become easier and more common with the globalization of global economies as transportation system capabilities evolve. With an increase in international trade, all countries are increasingly reliant on imports, and as a result, many countries now have to pay tariffs and oth......
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