Duty

A duty in customs is a tax imposed on goods imported into a country. 

Customs duties are typically imposed on a percentage of the value of the goods imported. The rate of customs duty varies from country to country and from product to product. Some goods may be exempt from customs duties altogether.

Customs duties are paid by the importer of the goods. The importer is responsible for declaring the goods to customs and paying the applicable duties. Customs officials inspect the goods to ensure that they are accurately declared and that the correct duty amount is paid.

Some key types of customs duties includes:

• Ad valorem duties: Imposed as a percentage of the value of the goods imported
• Specific duties: Imposed as a fixed amount per unit of goods imported
• Mixed duties: A combination of ad valorem and specific duties

The type of customs duty that’s imposed on a particular good will vary depending on the destination, origin, and product being imported.

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