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duty |
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duty, in taxation: see tariff tariff, tax on imported and, more rarely, exported goods. It is also called a customs duty. Tariffs may be distinguished from other taxes in that their predominant purpose is not financial but economic—not to increase a nation's revenue but to protect domestic ..... Click the link for more information. ; excise taxes excise taxes, governmental levies on specific goods produced and consumed inside a country. They differ from tariffs , which usually apply only to foreign-made goods, and from sales taxes , which typically apply to all commodities other than those specifically ..... Click the link for more information. . |
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