Customs Duty Law

Customs Duty Law refers to the regulations governing taxes imposed by a country's government on imports and exports. When goods cross international borders, customs duties ensure that the government collects revenue and protects domestic industries. The duty amount can vary based on the type of product, its value, and the country of origin. Importers must declare their goods to customs authorities, pay the assessed duties, and comply with trade regulations. This law helps regulate trade, support local businesses, and maintain economic balance while also enabling governments to manage their revenue from international commerce.