Definition

Noun: A tax or tariff levied by a government on goods brought into a country from another country. It is a charge paid at the point of entry for imported items.

Usage

"Import duty" is used to describe the specific tax applied to imported goods. It is a compound noun typically used in economic, trade, and logistical contexts. - The primary purpose of an import duty is often to protect domestic industries from foreign competition or to generate government revenue. - It is calculated as a percentage of the item's value (ad valorem duty) or as a fixed fee per unit.

Examples

• The company had to pay a high import duty on luxury vehicles.
• Before shipping, check the import duty rates for electronic goods in the destination country.
• A reduction in import duty on medical supplies was announced during the crisis.

Advanced Usage

• "To be subject to import duty": Means that goods are liable to be taxed upon import.
• "Import duty exemption": Refers to a situation where certain goods are not required to pay the tax.

Variants and Related Words

• Tariff: A synonym often used interchangeably with "import duty," though "tariff" can also refer to taxes on exports.
• Customs duty: A broader term that can encompass both import and export duties.
• Excise duty: A tax on the manufacture or sale of specific goods a country, which is different from an import duty.

Synonyms

• Customs charge
• Import tax
• Import levy
• Import tariff

Related Phrases

• "Pay the import duty": The act of settling the tax charge.
• "Duty-free": Denoting goods on which no import duty is charged, typically at airports or in specific zones.

Noun

1. a duty imposed on imports