Glossary Duty Exemption

Duty Exemption refers to the exemption of taxes imposed on imported goods or travelers' personal belongings, under certain conditions that meet the requirements. This exemption is typically granted for specific purposes, such as humanitarian aid, scientific research, or other activities that are deemed to be in the public interest. Duty exemptions are often granted by governments as a way to promote trade and economic development, and they can be an important factor in determining the competitiveness of certain industries or products. In order to qualify for duty exemption, the importer or exporter must usually meet certain conditions and provide supporting documentation to demonstrate that the goods meet the requirements for exemption.