Import Duties
/ˈɪmpɔrt ˈdjuːtiz/
Definitions
- (n.) Taxes or tariffs imposed by a government on goods brought into the country from abroad.
The company paid high import duties on the electronics shipped from overseas.
Forms
- import duties
- import duty
Related terms
See also
Commentary
Import duties vary by country and product category and are a key tool in trade policy to regulate market access and generate government revenue.
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.