WORLD HISTORY

HISTORY

HISTORY OF THE MIDDLE EAST

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Tariff means:
A
a tax to pay for social services
B
a tax on income paid to the government
C
a tax on purchases made on the internet
D
a tax on imports or exports
Explanation: 

Detailed explanation-1: -tariff, also called customs duty, tax levied upon goods as they cross national boundaries, usually by the government of the importing country. The words tariff, duty, and customs can be used interchangeably.

Detailed explanation-2: -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.

Detailed explanation-3: -Import tariffs are taxes charged by the customs authority on the importation of goods into a country. Usually, the value of the imported goods determines the amount that will be levied on them. In some context, import tariffs also means import duties, customs duties, tariffs or import tax.

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: -In international trade: Tariffs. Similarly, an export duty, or export tax, is a tax imposed on commodities leaving a customs area.

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