Everything You Must Know About Tariffs

Tariff Background

A tariff is a fee that is charged on goods being imported into a nation; on occasion, goods being exported can also be subject to tariffs. Tariffs are important for regulating trade and collecting revenue.

Impost

Impost is what is also considered a tariff; this is a fee that is charged on goods that are being brought into a nation from another country. Impost taxes can often be used

Mobile Phone Tariffs

Mobile phone tariffs are another term for taxes and fees individuals are charged regarding their cell phone bill. Some of these particular fees come from using phones during peak hours or out of the realm of normal service. Often, these can accrue and cause the normal cell phone bill to be excessive in amount.

Customs vs. Tariffs vs. Duty vs. Tax

Customs, tariffs, duty, and tax are four terms that all mean various charges that can occur. In some instances these terms are very similar in application; customs and duties are often considered to be the closed by definition. Tariffs and taxes are similar in application, but differ regarding what gets charged.

Tariff Code

The tariff code is a numerical system that is used to organize goods that are trades throughout the world. This code is important when it comes to having governments and industries being in compliance with regulation and the World Trade Organization.

General Agreement on Tariffs and Trade

General Agreement on Tariffs and Trade is an agreement that was put in place in the late 1940s in order alleviates issues regarding international trading. The agreement helps to regulate the movement of merchandise between nation and helps to lessen the tariffs that are incurred as the goods are being brought into countries; the goal is to promote more productive trade between nations.

Electricity Tariffs and Energy Tax

Electricity is one of the most utilized commodities in the United States. Because it is utilized every day, there are designated times called peak hours, in which charges regarding energy can become more. Understanding energy charges is important for paying bills.