In customs, a schedule of duties or taxes assessed by a government ton goods as they enter a country. Tariffs may be imposed to protect domestic industries from imported goods and/or to generate revenue. Types include ad valorem, specific, variable,…
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Commitment not to increase a rate of duty beyond an agreed level. Once a rate of duty is bound, it may not be raised without compensating the affected parties.
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Tariff binding is a commitment not to increase a rate of duty beyond an agreed level. Once a rate of duty is bound, it may not be raised without compensating the affected parties.
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The tariff code is the number assigner in the Harmonized Commodity Description and Coding System (HS code) of the tariff nomenclature. This is an international standardised system of names and numbers for the classification of commodities. The Tariff code based…
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Higher import duties on semi-processed products than on raw materials, and higher still on finished products. This practice protects domestic processing industries and discourages the development of processing activity in the countries where raw materials originate.
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