Customs Duty
/ˈkʌstəmz ˈdjuːti/
Definitions
- (n.) A tax imposed by a government on goods imported into or exported out of a country.
The company paid a high customs duty on the imported electronics.
- (n.) The revenue collected from the imposition of such a tax on goods crossing international borders.
Customs duty constitutes a significant source of revenue for many countries.
Forms
- customs duties
Related terms
See also
Commentary
Customs duty is commonly expressed in plural form as "customs duties" to refer collectively to various taxes levied on imported or exported goods.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.