ENTREPRENEURSHIP

Detailed explanation-1: -A tariff refers to the tax imposed by the government on imported goods from other countries. Tariff is imposed majorly to protect the domestic producers, but the government also imposes tariffs to reduce imports from other countries, thereby promoting the use of domestic products.

Detailed explanation-2: -Definition: Customs Duty is a tax imposed on imports and exports of goods.

Detailed explanation-3: -Tariff is a tax imposed when goods and services cross international borders.

Detailed explanation-4: -What is Tariff? Tariff which is often referred to as customs duty is the tax levied on goods and services involved in international trading, after they cross the national boundaries. These taxes are usually imposed by the government of the importing country.

Detailed explanation-5: -A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.