Duty (economics) in the context of "Estate (law)"

A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent.

All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income. Countries or sub-units often also impose wealth taxes, inheritance taxes, gift taxes, property taxes, sales taxes, use taxes, environmental taxes, payroll taxes, duties, or tariffs. It is also possible to levy a tax on tax, as with a gross receipts tax.

The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration.

One of the major goals was to reduce customs duties of all traded goods to zero by 2016. SAFTA required the developing countries in South Asia (India, Pakistan and Sri Lanka) to bring their duties down to 20 per cent in the first phase of the two-year period ending in 2007. In the final five-year phase ending in 2012, the 20-percent duty was reduced to zero in a series of annual cuts. The least developed countries in the region had an additional three years to reduce tariffs to zero. India and Pakistan ratified the treaty in 2009, whereas Afghanistan, as the eighth member state of the SAARC, ratified the SAFTA protocol on 4 May 2011.

An excise, or excise tax, is any duty on a category of goods that is normally levied by a government at the moment of manufacture for domestic consumption. This makes excise different from a sales tax or value-added tax (which are levied at a point of sale) or from customs duties (which are levied on goods when they cross a designated border).

An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try to recover their loss by raising the price paid by the eventual buyer of the goods. Excise is thus a tax that relates to a quantity, not a value, as opposed to the value-added tax which concerns the value of a good or service. Excises are typically imposed in addition to an indirect tax such as a sales tax or value-added tax (VAT). Typically, an excise is distinguished from a sales tax or VAT in three ways:

The Labour Party (Bokmål: Arbeiderpartiet; Nynorsk: Arbeidarpartiet, A or Ap; Northern Sami: Bargiidbellodat), formerly The Norwegian Labour Party (Norwegian: Det norske Arbeiderparti, DNA), is a social democratic political party in Norway. It is positioned on the centre-left of the political spectrum, and is led by Jonas Gahr Støre, the current Prime Minister of Norway.

The Labour Party is officially committed to social-democratic ideals. Its slogan since the 1930s has been "everyone shall be included" (alle skal med) and the party traditionally seeks a strong welfare state, funded through taxes and duties. Since the 1980s, the party has included more of the principles of a social market economy in its policy, allowing for privatisation of state-owned assets and services and reducing income tax progressivity, following the wave of economic liberalisation during the 1980s. During the first Stoltenberg government, the party's policies were inspired by Tony Blair's New Labour agenda in the United Kingdom and saw the most widespread privatisation by any government in Norway to that date. The party has frequently been described as increasingly neoliberal since the 1980s, both by political scientists and opponents on the political left. The Labour Party profiles itself as a progressive party that subscribes to co-operation on a national as well as international level.

Liquidation is the process in accounting by which a company is brought to an end. The assets and property of the business are redistributed. When a firm has been liquidated, it is sometimes referred to as wound-up or dissolved, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry.

Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders' liquidation or members' liquidation, although some voluntary liquidations are controlled by the creditors).

40°42′26″N 74°0′37″W / 40.70722°N 74.01028°W / 40.70722; -74.01028

The United States Custom House, sometimes referred to as the New York Custom House, was the place where the United States Customs Service collected federal customs duties on imported goods within New York City.