Evasion of Customs Duty
Customs duties are an important source of revenue in the developing countries. The importers purport to evade customs duty by (a) under-invoicing and (b) misdeclaration of quantity and product-description. When there is ad valorem import duty, the tax base is reduced through underinvoicing. Misdeclaration of quantity is more relevant for products with specific duty. Production description is changed match a H. S. Code commensurate with a lower rate of duty.
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Famous quotes containing the words customs and/or duty:
“Is a civilization naturally backward because it is different? Outside of cannibalism, which can be matched in this country, at least, by lynching, there is no vice and no degradation in native African customs which can begin to touch the horrors thrust upon them by white masters. Drunkenness, terrible diseases, immorality, all these things have been gifts of European civilization.”
—W.E.B. (William Edward Burghardt)
“Oh! Duty is an icy shadow. It will freeze you. It cannot fill the heart’s sanctuary.”
—Augusta Evans (1835–1909)