difference between taxes & duties?

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difference between taxes & duties?

2006-11-06 03:58:56 · 2 answers · asked by avinash 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

2 answers

They result in the same thing - money out of your pocket. Duties usually involve importing and exporting. Taxes involve income or purchases.

2006-11-06 04:23:12 · answer #1 · answered by hirebookkeeper 6 · 0⤊ 0⤋

Taxes - generally on income, and profit.

Duties are on mainly imported items - when you go to the Bahamas there are duty free shops - however you must claim them when you re-enter the USA!

2006-11-06 12:02:40 · answer #2 · answered by May I help You? 6 · 0⤊ 0⤋