Customs Duties
Customs duties are taxes levied on goods that are transported across international borders. These taxes are collected by customs authorities of a country and are usually based on the value of the goods being imported or exported. Customs duties are imposed to protect domestic industries from foreign competition, to generate revenue for the government, and to regulate the flow of goods across borders. The rates of customs duties vary depending on the type of goods, the country of origin, and the destination country. Failure to pay customs duties can result in penalties, fines, and seizure of goods.
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