customs duty


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Wikipedia.
Related to customs duty: Excise duty, Customs tariff

customs duty:

see tarifftariff,
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 industries
..... Click the link for more information.
.
References in periodicals archive ?
"Director-General recommends an increase in the rate of customs duty on imports of subject goods originating in Malaysia by five per cent for a period of 180 days which is considered appropriate to safeguard the interest of domestic industry," said an official statement.
According to SRO 52(I)/2019, the overseas Pakistanis are sending dues of customs duty from their bank accounts but fluctuations in the currency rate and change in the duty and tax structure have caused problems for them.
Since August 2016, India has imposed a 35 per cent customs duty on flat-screen TVs.
Precious metals brought in to India by passengers flying to the country has been classified in the 2019 budget as "Gold and Silver imported by an eligible passenger as baggage," and the customs duty placed on them will be categorised as indirect taxes.
Further, loss of Customs Duty on account of non-tariff/tariff measures on specific items like vehicles, furnace oil, betel nut and other edibles etc., has been estimated to be above Rs35bn.
In November 2018, Minister of State for Revenue Hammad Azhar had announced that Pakistani expatriates will be allowed to bring only one mobile phone to the country, per year, free of customs duty as per the new personal baggage rules.
The budget statement for the fiscal year 2019/20 presented on May 29 by Finance Minister before the joint session of the federal parliament states that a 10 per cent customs duty has been fixed on textbooks imported from India.
The government has proposed five percent customs duty and ten percent federal excise duty on import of LNG which will add to the problems of CNG operators, he said.
ISLAMABAD -- The Federal Board of Revenue (FBR) notifies Monday the exemption of customs duty on import of cotton.
New Delhi: Auto industry body SIAM Friday sought increase in customs duty for imported fully-built commercial vehicles to 40 per cent from the current 25 per cent as part of its wish list ahead of the Budget.
The transfers were through the implementation of 168,726 transactions in the Automated Transfer Customs Duty (ATCD) system, which was launched in October 2015, Emirates News Agency (WAM) reported.

Full browser ?