Duty Exemption
/ˈdjuːti ɪgˈzɛmpʃən/
Definitions
- (n.) A legal or regulatory provision that exempts certain persons, goods, or transactions from the obligation to pay customs duty or other taxes.
The import of medical equipment received a duty exemption under the new trade policy.
Forms
- duty exemption
- duty exemptions
Related terms
See also
Commentary
Duty exemptions are often narrowly tailored in legislation to promote trade, humanitarian aid, or specific industries, requiring precise statutory interpretation.
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.