The duty of a tax item collected on imports and imports by the customs authorities of the country. The value of the good usually tells the import function. Depending on the context, the import duty may also be known as tax duty, tax, import duty or import tax.
Function import is defined
Import duties have two distinct purposes: increase revenue to local government and provide an opportunity to sell in the market of locally produced or non-imported goods. The third related purpose is sometimes to punish a particular country for charging high import duties on its products.
In the United States, Congress introduced imports. The Harmonized Tariff schedule (HTS) calculates import prices and has been published by the International Trade Commission (USITC). Different values are used depending on the nature of American trade relations. The standard applies to countries that have normal trade relations with the United States. Special rates in countries that may be developed or suitable for a foreign trade program.
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