What's the difference between tariffs and duties?

Question

Social Studies

Lizeth Ayers

11 June, 05:04

What's the difference between tariffs and duties?

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Kelvin Mosley · Answer 1

tariffs are those taxes which are imposed by the government on the goods which are imported from another country.

duties are taxes that are imposed on the consumer not only for goods imported but also for local goods as well as intrastate transactions.