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What is a Duty?

An indirect tax on the value of an exported or imported good is called a duty.

Import Duty vs. Export Duty

An import duty is a tax assessed on the value of an imported good, whereas an export duty is a tax assessed on an exported good.

Customs Charges and Excise Taxes

Customs charges and excise taxes are levied on both imported and domestically produced items.

Duty vs. Other Taxes on Cargo

Duty is distinct from other taxes imposed on cargo and covers entry processing charges, reimbursed government fees or fines, fines or liquidated damages for a documented error, and any contraventions of customs rules.

Types of Duties

  • Basic Duty (83)
  • Countervailing Duties (84)
  • Anti-dumping duty (85)

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