Essay On Importance Of Customs

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Customs is a government agency entrusted with enforcement of laws and regulations to collect and protect the export and import activities and to regulate the flow of goods in and out of the country. Each country has its own rules and regulation for export and import activities and there are some of goods that are restricted or forbidden to be exported and imported. Customs role are to avoid the prohibited goods to be bring into or bring out of the country. Practices is a method, procedure, process or rule used in a field or profession.
9.1 Role of Customs Department
There are many role and variety of objectives of Customs department. Firstly, it collects a customs duty on export and import. Secondy, it …show more content…

c) Accelerate economic growth
Third role of customs department is the collection of statistics. For future policy making, it is important for the economy to keep account of the flow of goods and services to and from the economy in its international trade relations. Economic Analysis Department monitor and analyse the performance of customs revenue collection on a continuous basis.
9.2 Types of Customs Duty
In customs, a tax levied by a government on the import and export of goods. Usually a tax imposed on imports by the customs authority of a country. A few example of Customs Duty are as follow:
a) Export Duty
Export duty is a duty imposed on export tariff. Customs will collect the duty when the goods are about to leave the country. For example, the export of canned food to Argentine will be imposed export duty by Customs Malaysia.
b) Import …show more content…

They are widely used in international commercial transactions or procurement processes as the use in international sales is encouraged by trade councils, courts as well asinternational lawyers. A series of three-letter trade terms related to common contractual sales practices, the Incoterms rules are intended primarily to clearly communicate the tasks, costs, and risks associated with the transportation and delivery of goods. Incoterms inform sales contract defining respective obligations, costs, and risks involved in the delivery of goods from the seller to the buyer. However, it does not constitute contract or govern law. Also, it does not define where titles transfer and does not address the price payable, currency or credit

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