Tariff, also known as customs duty, is a type of tax levied on the goods or services imported. Through the price of goods and services imported from another country, tariffs are used to limit imports, rendering them less appealing to domestic consumers. The words tariff, duty, and customs are oft.....
A free trade agreement (FTA) or treaty is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods and services, and protections for investors and intellectual property rights, among other topics. FTAs, a type of trade pacts, specify t.....
The term ‘Import duty’ applies to various taxes imposed on goods imported from abroad. The value of a product would typically determine the import duty; the import duty can also be known as a customs duty, tariff, and import tax or import tariff, depending on the context. However, if .....
The excise tax, including sales taxes, is a kind of indirect tax in that it is passed on to the consumer at the point of sale. Excise taxes are domestic taxes that are levied on a government system rather than international taxes that are levied across borders. Revenue created by excise taxes add.....
A luxury tax is a tax on luxury goods; it is a tax on purchases or surcharges imposed only on certain products or services that are perceived to be non-essential or available only to the super-rich. Modern examples are taxes on jewelry and perfume. A luxury tax could also be modeled after a nuisa.....
Side Job is a job undertaken in addition to one’s main occupation, as a supplementary source of income. A side job also called a side hustle is an additional job that a person takes in addition to their primary job in order to supplement their income. It is any type of employment undertaken.....
Organized Market is a formal market in a specific place in which buyers and sellers meet to trade according to agreed rules and procedures. This is a type of market whose proceedings are governed by written rules and customs. Stock exchanges, financial futures exchanges, and commodity markets a.....
The initial investment is the amount required to start a business or a project. It is also known as start-up costs are net cash outflows at the present cost. It refers to the sum of all cash outflows and cash inflows occurring at zero time periods. It equals capital expenditures plus working capi.....
Stamp Duty, commonly known as Stamp Duty Land Tax or SDLT, is a tax imposed on sales or records of single property; traditionally, this included most legal documents, such as cheques, receipts, military commissions, marriage licenses, and land transactions. Governments impose stamp duties, also c.....
Unreported employment, (also known as working under the table, illicit work, or moonlighting), is illegal employment that is not reported to the government. It is employment that the state doesn’t know about, meaning it can’t tax the employment or ensure its compliance with labor laws, health.....
Branding is a marketing method in which an organization establishes an easily recognizable name, emblem, or logo as belonging to the product. Brands are used for identification in industry, marketing, and advertisement and, most importantly, to build and store interest as brand equity for the bra.....
Open Market Operations This refers to the purchase or sale of securities in the market by the central bank on its own initiative to control the volume of credit in the country. It refers to a central bank buying or selling short-term Treasuries in the open market in order to influence the money s.....