|Overview: Customs Duty vs Excise Duty|
Customs Duty Definition
A tax on the import or export of certain goods.
Excise Duty Definition
A tax on certain goods that are produced domestically such as alcohol or tobacco.
Customs Duty vs Excise Duty
John Spacey, updated on July 17, 2023
Customs duties are taxes on the import and export of goods. Excise duties are inland taxes that are applied to certain goods produced domestically. Both customs and excise duties are essentially hidden taxes that show up in the price of goods and services.
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