TARIFF

DEFINITION ~ A scale of duties imposed by a government on goods imported or exported ~ A tax that adds to the cost of imported goods. KINDS 1. As to Purpose a. For Revenue ~ tariff is a particular type of taxation b. For Protection Reasons: i. Protecting Consumers origin b. Double Schedule ~ ~ provides for two different rates of duties applicable on every particular imported good; one rate sets the minimum and the other the maximum c. Multiple Schedule ~ ~ specifies different rates of import TYPES 1. Specific ~ Fixed fee levied on one unit of imported
good.

duties applicable to different countries.

ii.

Infant Industries

This tariff can vary according to the type of imported good 2. Ad Valorem ~ Levied based on the percentage of the

iii.

Retaliation

goods value

2. As to Manner of Imposing Rates a. Autonomous ~ rates of customs duties are established by legislative actions. ~ changes in rates are subject to the auction of the law-making body b. Conventional ~ the results of convention or agreement 3. As to Schedule a. Single Schedule ~ ~ imposes the same rates on imported goods of the same nature and kind regardless of countries of