import duties
Import duties are taxes imposed by a government on goods brought into a country from abroad. These duties are designed to protect local industries by making imported products more expensive, encouraging consumers to buy domestic goods instead. The amount of duty varies based on the type of product and its country of origin.
When businesses or individuals import items, they must pay these duties before the goods can enter the country. The revenue generated from import duties helps fund government services and infrastructure. Understanding import duties is essential for anyone involved in international trade or purchasing goods from other countries.