The Tax an Importer Must Pay in Order to Be

question 14

Short Answer

The tax an importer must pay in order to be allowed to let goods into the country is called ____________________.

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Definitions:

Sectors

Distinct parts or areas within an economy, characterized by a specific kind of activity, such as the agricultural, manufacturing, or service sector.

Regressive Tax

A tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases, disproportionately affecting low-income earners.

General Sales Taxes

A tax imposed on sales transactions, usually calculated as a percentage of the sales price and collected by the seller at the point of purchase.

Personal Income Taxes

Taxes levied on the income of individuals, typically graduated so that higher income levels are taxed at higher rates.