Glossary

Duty

Tags: Glossary

A duty is an indirect tax on the value of an imported or exported product.

Flexport
Woman with face mask

Blog

Coronavirus Update: Supply Chain and Economic Updates

What is a Duty?

A duty is an indirect tax imposed by government on the value of an imported or exported product.

Duty assessed on an imported product’s value is referred to as an import duty, while a duty assessed on an exported product is referred to as an export duty.

A duty is distinct from other forms of tax, such as sales tax, VAT, and excise tax. It is important to note that a duty is separate from fees that are assessed against cargo to pay for government services. This includes: entry processing fees, reimbursable government services or fines, penalties or liquidated damages for a documentary error, and any violations of customs regulations.


Learn More

Related Help Articles

Importing into the EU: Customs Duties

How Do I Estimate Customs Duties?

Related Glossary Terms

HS / HTS Codes

Countervailing Duties

Share the Article

More From Flexport

arrowImage

准备好开始了吗?

注册 Flexport 账号或要求查看我们的行动平台。

关注微信公众号阅读每周的航运市场动态。

立即扫描二维码关注 Flexport。

flexport-wechat