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Financial Terms

Customs duty

A duty, also known as a tariff, is a tax that is charged on goods imported into or exported out of a country. These duties are typically paid by the importer and exporter, and are a key source of revenue for the government. They can also be used as a tool to regulate trade and protect domestic industries. Understanding the role of duties is crucial in navigating the complexities of international trade.

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A comprehensive resource containing definitions and explanations of terms, concepts, and jargon used
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