Customs taxes are the amounts of money that are paid to the state budget for goods that are transported through the national customs service. Such taxation is often the main means of income at the state level. Thanks to these rules, international trade is regulated and one’s own interests are respected.
What are customs taxes?
Customs taxes may vary in a number of ways. So, according to the direction of the goods, the following types can be considered:
1. On import. This means that goods imported into the country from abroad are subject to taxation. Imported goods are more expensive, which stimulates the development of national production.
2. On export. These taxes are levied on products that are exported. Thanks to these measures, it is possible to maintain the balance of the economy and provide assistance to local enterprises.
3. On transit. They are paid when the goods are transported through the country to a third state.
The need for taxes
Thus, customs taxation is a mandatory process in international trade. They are necessary in order to maintain the economic situation in the country and stimulate its own production.