Duty Deferment
/ˈdjuːti dɪˈfɜːrmənt/
Definitions
- (n.) A legal arrangement permitting the postponement of payment of duties or taxes, often used in customs to delay cash flow impact.
The importer applied for duty deferment to delay tax payment until the goods were sold.
Forms
- duty deferment
Related terms
See also
Commentary
Duty deferment is often governed by strict regulatory conditions to prevent abuse and ensure eventual compliance with tax obligations.
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.