Code: A2FE6192019 |   Price: ₦1,999.00 |    30 Pages |    Chapter 1-7  |    231 Views

Computerized custom information system, CCIS provides flexible and cost effective independent export duty services for corporate export duty departments. The money collected from tariffs is called a customs duty. Although tariffs are a source of government revenue, tariffs are also used as part of political and economic policies. For example, import taxes protect domestic manufacturing and agricultural industries from foreign competition by making imported items more costly. Tariffs were originally used by governments to raise revenue. As industry grew and national economies formed in the 1500s and 1600s, tariffs were used mainly to protect domestic industry and achieve a favorable balance of trade—that is, to have more goods exported than imported. These uses of tariffs led to governments levying high and often discriminatory tariffs on hostile governments, while friendly governments were given preferential treatment. Peace treaties negotiated during the 1600s and 1700s by major European warring powers often contained provisions for reducing import duties. After 1700, virtually every treaty regulating commerce contained a most-favored-nation clause that obligated participating governments to extend their most favorable tariff policy to all nations.

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