We give You a competitive edge over others by letting you know about your major competitors and what are their exporting value compared to yours, where they source their products and the current industry trend for the importers.
Tariff and Taxes both can be called by a single unit known unit known as Tariffs. A Tariff is a tax which is levied upon goods
as they cross national boundaries, usually by the government of the importing country. A Tariff, duty and customs all these words
are generally used interchangeably. Tariffs are used to restrict trade as they increase the price of imported goods and services.
Tariffs provide additional revenue for government and domestic producers at the expense of foreign producers.
The main difference between tariff and tax is Tax is imposed on imported goods and services while Tariffs are used to restrict trade.
Tariffs may be further classified into three groups—transit duties, export duties, and import duties.
Export duties were first introduced in England by a statute of 1275 that imposed them on hides and wool. Export Duties cannot be longer used to a great extent, except for certain products like mineral and agricultural products. Export duties are levied by raw-material-producing countries rather than by advanced industrial countries.
As the name implies, transit duties are levied by the country through which the goods pass. The most direct and immediate effect of transit duties is to reduce the amount of commodities of international trade and raise their cost to the importing country.
Import Duties levied either on revenue or protection or both goods.These are the most important and most common types of custom duties. A list of all import duties is usually known as a tariff schedule. A single tariff schedule, such as that of the United States, applies to all imports regardless of the country of origin.