UNIT IV. CUSTOMS PAYMENTS

TEXT A. REVENUE COLLECTION

Tariff is a tax levied by a national government on goods that are imported or, less often, exported across the border of a country or that of a group of countries that have formed a customs union. Tariffs are often classified as either protective or revenue. Protective tariffs are designed to protect domestic production from foreign competition by raising the price of the imported commodity and restricting imports.

Revenue tariffs are designed to obtain revenue, i.e. to provide a major source of income for the federal government.

The amount of a tax collected is called the duty or customs duty. The duties payable are of two kinds. If they are fixed duties imposed according to the physical quantity of the goods (per ton, per meter, per item, etc.), they are called specific duties. If they are levied according to the value of the goods, they are known as ad valorem duties.

When duty is charged by weight, it is calculated of the net weight of the article, i.e. excluding the weight of any container. When the article contains more than one ingredient, one or more of which is liable to duty, the duty shall be calculated on the proportionate value of the dutiable ingredients.

It is important to remember that freight, insurance, commission, packing and containers are included in the value fixed for the purpose of assessing ad valorem duty.

In the Russian Federation all customs duties are payable both in Russian and in foreign currencies. Payments are accepted immediately in cash; but if payment is made by cheque, the goods will be held until the cheque has been cleared unless the cheque is certified.

Excise and VAT (Value Added Tax) are indirect taxes included in the value of goods. In Russia there are excise duties on oil products, tobacco, alcohol, jewelry and automobiles. VAT is a tax on the final consumption of goods and services in the home market. It is collected on business transactions and imports.

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Grammar: MODAL VERBS, REPORTED SPEECH	\|	TEXT B. CUSTOMS UNIONS

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