Definition
Customs duty, also known as import duty or tariff, is a tax imposed on goods imported into a country from abroad. Customs duty rates may vary depending on factors such as the type, origin, and value of the imported goods, as well as any applicable trade agreements or exemptions. Customs duty revenue helps protect domestic industries, regulate trade, and generate revenue for government budgets.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.