Import Duties | Shipping Term Explained | Logistics Glossary
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GLOSSARY
Import duties
The import duties represent the different taxes imposed on the imported goods.
What does an import duty mean?
Every country collects tax on imported and exported goods, and the customs authorities are collecting a customs duty tax on these goods. The amount one has to pay will depend on the type of goods that are entering or exiting a country, their value and other factors. The term import duty can be used interchangeably with customs duty, import tariff or import tax.
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