What is Customs Duty
If you are bringing goods for personal use into a country, or ordering or sending them abroad, you may need to pay for the Customs Duty (also known as import duty) in that country. What you pay and how much will depend on the type of goods and where they come from. It is a tax levied on imports and exports (sometimes) by the customs authorities of that country to raise state revenue as well as to protect domestic industries from predatory competitors abroad.
Tariffs, or duties, are usually based on either the value of the goods (ad valorem duties), other factors such as quantity or weight (specific duties), or a combination of value and some other factors (compound duties). Commercial goods that are not yet cleared through customs will be held in a customs area (also known as a bonded store) until they are being processed. This area is surrounded by a customs border.
Goods within the customs area are usually treated as being outside the country so that easy transhipment to a third country can be done without customs authorities being involved. This is why customs areas are always fenced and carefully controlled to prevent smuggling.
In the Kingdom of England, this tax was typically part of the customary revenue of the king and did not need parliamentary consent to be levied, unlike land tax, excise duty, or other forms of taxes.
What is Excise Duty
An excise or excise tax (also called as an excise duty or duty of excise special tax) is a type of tax that is charged on goods produced within the country. Excises are sometimes called as inland taxes, while customs duties are called border taxes.
Excise taxes are usually included in the price of the service or product (such as cigarettes, alcohol and motor fuels). These taxes may also be imposed on certain activities like gambling. This duty can be often found along with VAT and sales tax. Excise taxes may be imposed by a state, or by the federal government. Excise duty is valued ad valoreum – meaning that it is calculated taking into account the number or volume of goods.
What is VAT
VAT (or also called as consumption tax) is the value added tax, which is usually not paid by the vendor (who has already paid the excise duty) but the buyer. Also referred to as the “goods and service tax”, this tax is a form of indirect tax that is impossedd at different stages of production on goods and services.
For example: a manufacturer sells a dvd player to a wholesaler for $100 and charges him VAT on that amount at 23% (lets sat the standart rate of VAT is 23%). Therefore the wholesaler pays $123 for the dvd player. The manufacturer then pays the VAT of $23 to the government. The wholesaler then sell this dvd player to a retailer for $200. He adds on VAT at 23% so the retailer has to pay $246 for the dvd player. The wholesaler must pay $46 to the government but he can reclaim the $23 VAT he has already paid to the manufacturer, leaving $23 which he pays to the government. When the retailer goes on to sell the product to a consumer, he also add on VAT to his selling price. He then sells the dvd player for $300 plus VAT at 23%, making a selling price of $369 for the consumer. The retailer then pay the VAT to the government, and again, he can claim back the $46 VAT that he paid to the wholesaler, leaving %23 for the government.
The economic effect of VAT will fall on the final prices of the services and goods while sales tax will rely on the final sale to the consumers.
Taxes are financial levies imposed by a government upon its people or citizens that are compulsory and not voluntary. It is through the duties and taxes that the government is able to run the state. Each country has its own ways, rules and regulations for imposing and collecting customs and excise duty. Customs and excise duties may differ from one country to another.
HubPages is a social networking and personal interaction website, you can promote your website through HubPages. It is just another way for webmasters to create their quality backlink. By using Hubpages, users can write anything they are knowledgeable about or anything they like and add links to direct relevant traffic to their main site. You can use Hubpages to promote your affiliate products or even your Internet home based business website, and another best part is that you do not have to learn or have any knowledge about HTML, PHP, CSS or any other tech stuff, it is basedd on WYSIWYG (What You See Is What You Get). The writing platform is sleek and user friendly. You also don't have to be an expert in order to write about a subject.
Mixx is another popular social media website among many others out there and the site helps you to submit any of your favorite or interesting content which you want to share it to other people. This social media site combines social networking and bookmarking. Mixx was launched in September 2007 and has a format similar to Propeller (Netscape) and Digg where you vote stories up or down. The difference is that once you submit stories to Mixx, you can’t delete it or change its title or description while you might be able to do this in other social media site. All of the content is user-generated, there are no editor who decides what you should find interesting, so you can submit stories, videos, photos —whatever you find informative, interesting, fun or different.
Set up a good interesting profile and create for yourself an eye catching avatar (avatar= logo or personal image) to attract attention to your posts. With 15 submissions per page and hundreds of submissions per hour, you need to have something that make your posts stand out from the other.
After your account has been verified, login to Digg and on the main page click on “Submit New” (the third tab on top of the page). Click that link and it will take you to the submission page.
All of the Digg’s website content (from news to videos to images) comes from the site’s visitors (that would be you and other Digg account holders) and it is submitted on a voluntary basis. Among all of the social bookmarking websites, Digg is one of the most popular one, and according to Alexa.com Digg is in the top 250 most visited websites on the entire web. It is reported that Digg has approximately 33 million visitors each month and has 24 million account holders and 5 million of them are active on the site everyday.
Propeller (formerly known as Netscape) and Reddit, both are famous social news websites, meaning that they are programmed by its members — the audience, includes you. You can find plenty topics from technology, gadget to humor to politics and to many more. Once you become their member (it is free to become one), it allows you to submit and vote on any stories, share it with friends and maintain a list of your favorite articles and upcoming articles. You also can submit pages from your own website or blogs that you feel are worth telling others about and at the same time inviting more traffic to your spot on the web. An excellent reward for well written or informative content.
Diigo is a social bookmarking service. Maybe many of you already know how to favorite a web page using Internet Explorer or bookmark using Firefox browser. In Diigo, the service is more or less the same but instead of saving the URL in your browser, you save it on the internet. The advantages of using Diigo to your everyday blogging or web surfing:
In order to share many types of your documents to other users online, Docstoc provides you that service. DocStoc was founded by Alon Shwartz and Jason Nazar in August 2007 and it was publicly launched in November 2007. In Docstoc, you can upload as many documents as you like and create free high quality backlinks to your sites, blogs, hubs, lens, etc. and earn a percentage of revenue. Docstoc supports .doc, .xls, .pdf, .rtf, .txt, .docx, .ppt, .pps, .xlsx, and .ppts file formats. You can embed Docstoc documents onto your own websites and blogs, this feature is interesting because you can scroll, zoom, drag, rotate, and more with the DocStoc widget.
