Customs Tariff

Tags: Glossary

A tax imposed on imported or exported goods by a government.

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What is Customs Tariff?

Customs tariffs are taxes that are imposed by a government on goods that are imported into a country. Customs tariffs are levied to generate revenue for the government, to protect domestic industries from foreign competition, and to regulate the flow of goods into a country. 


Customs tariffs can take different forms, such as ad valorem tariffs, which are based on a percentage of the value of the goods being imported, or specific tariffs, which are based on the quantity or weight of the goods being imported. Tariffs can also be structured in different ways, such as a flat rate or on a sliding scale, depending on the type of goods being imported and the country of origin. 

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