Definition

Noun: A revenue tariff is a tax imposed on imported goods primarily for the purpose of generating income for the government, rather than for protecting domestic industries from foreign competition.

Usage

A revenue tariff is designed to be a source of public funds. Its rate is often set at a level intended to maximize income without significantly discouraging the importation of the taxed goods. * The government introduced a revenue tariff on luxury cars to help fund new infrastructure projects. * Historically, many countries relied on revenue tariffs as a major source of national income before modern income taxes were established.

Advanced Usage

• The economic effect of a revenue tariff is contrasted with that of a . While both are taxes on imports, their primary objectives differ.
• In policy debates, a revenue tariff may be discussed in the context of tax reform or trade policy that seeks to minimize market distortion.

Variants and Related Words

• Tariff (n): A tax or duty to be paid on a particular class of imports or exports.
• Protective tariff (n): A tariff imposed to shield domestic producers from foreign competition by making imported goods more expensive.
• Duty (n): A kind of tax, often synonymous with tariff, levied on goods.

Synonyms

• Fiscal duty
• Revenue duty

Antonyms

• Protective tariff
• Prohibitive tariff

Noun

1. a tariff imposed to raise revenue