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The collection of tariffs on imported goods is the function of?


Question

The collection of tariffs on imported goods is the function of?

Options

A)
Ports authority
B)
Customs and Excise Authority
C)
Clearing and Forwarding Agents
D)
Export Promotion Council

The correct answer is B.

Explanation:

The question is asking about who is responsible for collecting tariffs on imported goods. Tariffs are taxes or fees imposed on goods that are brought into a country from another country.

In this case, the correct answer is Option B: Customs and Excise Authority. The Customs and Excise Authority is a government agency that is responsible for enforcing customs laws and regulations. They are in charge of inspecting and monitoring goods that are imported or exported, and they collect the tariffs on imported goods.

Tariffs are collected to protect domestic industries, regulate trade, and generate revenue for the government. They can be used to make imported goods more expensive and less competitive with domestic products. The revenue generated from tariffs can be used to fund government programs and services.

It is important for the Customs and Excise Authority to accurately collect tariffs to ensure that the correct amount is paid and that the government receives the revenue it is entitled to. They play a crucial role in regulating international trade and ensuring the fair and lawful movement of goods across borders.

To learn more about this, please read the relevant sections of the recommended textbooks.


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