Other taxes on international trade and transactions

International Trade Tax Payment - International Trade Tax Payment covers revenue received by the government from the purchase and sale of foreign exchange at different rates, when the government exercises monopoly powers to extract a margin between the purchase and sales price, other than to cover administrative costs. This revenue constitutes a compulsory levy exacted from both purchasers and sellers of foreign exchange and is equivalent to import and export duties in a single exchange rate system. It also includes profits of export or import monopolies and other taxes specifically levied on international trade or transactions.

Class Information

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Identification

Label (rdfs)
International Trade Tax Payment
Preferred Label
Other taxes on international trade and transactions
Alternative Labels
Currency Exchange Tax, Currency Trade Levy, Foreign Exchange Tax Payment, International Transaction Tax, Trade Levy Payment
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Definition and Examples

Definition
International Trade Tax Payment covers revenue received by the government from the purchase and sale of foreign exchange at different rates, when the government exercises monopoly powers to extract a margin between the purchase and sales price, other than to cover administrative costs. This revenue constitutes a compulsory levy exacted from both purchasers and sellers of foreign exchange and is equivalent to import and export duties in a single exchange rate system. It also includes profits of export or import monopolies and other taxes specifically levied on international trade or transactions.
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