Import Duty is a tax imposed on goods that are bought from outside the European Union (EU) and imported into the EU states. It is intended to protect local businesses from foreign competition by making it more expensive to import goods than to buy them locally.
Table Of Content:
- Import duty - definition of import duty by The Free Dictionary
- What is Customs Duty? Definition of Customs Duty, Customs Duty ...
- Import duty definition and meaning | Collins English Dictionary
- Anti-Dumping Duty Definition
- Tariff - Wikipedia
- Duty Definition & Meaning | Dictionary.com
- Glossary of Tax Terms - OECD
- IMPORT DUTY | meaning in the Cambridge English Dictionary
- Understanding the WTO - Anti-dumping, subsidies ... - WTO
- import - WordReference.com Dictionary of English
1. Import duty - definition of import duty by The Free Dictionary
https://www.thefreedictionary.com/import+duty
Define import duty. import duty synonyms, import duty pronunciation, import duty translation, English dictionary definition of import duty. Noun 1. import duty - a ...
2. What is Customs Duty? Definition of Customs Duty, Customs Duty ...
https://economictimes.indiatimes.com/definition/customs-duty
Customs Duty definition - What is meant by the term Customs Duty ? meaning of IPO, Definition of Customs Duty on The Economic Times.
3. Import duty definition and meaning | Collins English Dictionary
https://www.collinsdictionary.com/dictionary/english/import-duty
Import duty definition: a tax or duty imposed on imported goods | Meaning, pronunciation, ... import duty in British English ... another name for import tariff.
4. Anti-Dumping Duty Definition
https://www.investopedia.com/terms/a/anti-dumping-duty.asp
What Is an Anti-Dumping Duty? An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced ...
5. Tariff - Wikipedia
https://en.wikipedia.org/wiki/Tariff
A tariff is a tax imposed by a government of a country or of a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also ... Duty-free goods are imported and stocked in what is called a bonded warehouse. ... The Online Etymology Dictionary: tariff.
6. Duty Definition & Meaning | Dictionary.com
https://www.dictionary.com/browse/duty
Duty definition, something that one is expected or required to do by moral or legal obligation. ... See synonyms for: duty / duties on Thesaurus.com ... a government tax, esp on imports. British. the quantity or intensity of work for which a machine ...
7. Glossary of Tax Terms - OECD
https://www.oecd.org/ctp/glossaryoftaxterms.htm
AVOIDANCE -- A term that is difficult to define but which is generally used to ... based on English law and which is followed under the doctrine of precedent, i.e. past ... term "impost" means tax and refers particularly to a duty on imported goods ...
8. IMPORT DUTY | meaning in the Cambridge English Dictionary
https://dictionary.cambridge.org/dictionary/english/import-duty
5 days ago ... import duty definition: a tax placed on goods coming into one country from another: . Learn more.
9. Understanding the WTO - Anti-dumping, subsidies ... - WTO
https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm8_e.htm
ENEnglish · FRFrançais · ESEspañol ... The legal definitions are more precise, but broadly speaking the WTO ... between trading partners — typically anti- dumping action means charging extra import duty on ... What is this agreement called?
10. import - WordReference.com Dictionary of English
https://www.wordreference.com/definition/import
import - WordReference English dictionary, questions, discussion and forums. ... into another:The word input was imported to computer usage to mean "type in to the ... Collocations: import [duties, taxes], impose an import [levy, ban, restriction] ...
What is an example of import duty?
An example of import duty would be a tax imposed on items imported into the European Union, such as cars or electronics.
How does import duty affect buyers?
Buyers must pay this charge when they purchase items from suppliers outside of the EU, which can result in higher prices and fewer choices of products available.
When do you have to pay import duty?
You will only have to pay import duties if you’re importing goods from a non-EU country, as EU member states don’t impose taxes on trading within the union.
Is there an exemption for certain types of imports?
Yes, some imports may qualify for exemptions depending on their purpose or origin - for example, goods that are imported for medical or scientific research purposes can often be exempt from paying customs duty.
Conclusion:
In conclusion, Import Duty is a tax imposed on goods brought into the European Union from other countries. It affects buyers by increasing costs and limiting choice, and exemptions may be applicable in certain cases.