duty


duty
A tax on imports, exports, or consumption goods. Bloomberg Financial Dictionary
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There are two main types of duty collected by HM Customs and Excise: one is 'import duty', which is duty charged on goods imported into the European Union ( EU); and the other is 'excise duty', which is a UK tax on certain types of goods, such as alcohol or tobacco. HM Customs & Revenue Glossary

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duty du‧ty [ˈdjuːti ǁ ˈduː-] noun duties PLURALFORM
1. [countable usually plural] something that you have to do as part of your job:

• Thomas J Hutchison was named chief executive officer, adding to his duties as president and chief operating officer.

— see also breach of duty
fiˌduciary ˈduty [uncountable] LAW
the legal duty of someone who is responsible for the assets of others to protect their interests — see also breach of fiduciary duty
2. [countable, uncountable] TAX a tax you pay on something you buy, import etc:

• Democrats want these imported vans classified as trucks and hit with a 25% duty.

Duty is levied (= charged ) on every bottle of wine brought into the country.

ad vaˌlorem ˈduty [æd væˈlɔːrəm ˌdjuːti ǁ -ˌduː-] [countable, uncountable] TAX
duty calculated as a percentage of the value of goods, rather than on their weight or the number of units
ˌcounterˈvailing ˌduty [countable, uncountable] TAX
a tax on goods brought into a country that is intended to protect an industry in that country from competition from abroad
ˈcustoms ˌduty [countable, uncountable] TAX
a tax on goods brought into a country that is used to raise money for the government and to protect industries in the country from competition from abroad; = CUSTOMS TARIFF:

• Privately imported cars are subject to a 19% customs duty.

ˈdeath ˌduties [plural] TAX
in Britain, taxes that must be paid by someone who is left property or money by someone who has died
disˈcriminating ˌduty [countable, uncountable] TAX
a tax on goods brought into a country which varies according to the country that the goods are coming from
esˈtate ˌduty [countable, uncountable] TAX
another name for death duties
ˈexcise ˌduty [countable, uncountable] TAX
a government tax on certain goods such as tobacco, alcoholic drinks, and petrol that are sold in the country
ˈexport ˌduty [countable, uncountable] TAX
tax that is paid on goods leaving a country:

• the export duties collected on timber shipped south to the US

ˈimport ˌduty [countable, uncountable] TAX
a tax on goods coming into a country from abroad, often used by governments as a way of reducing imports and protecting local industries; = IMPORT LEVY; IMPORT SURCHARGE; IMPORT TARIFF:
import duty on

• a US decision to impose import duties on Honda's Canadian-assembled cars

speˈcific ˌduty [countable, uncountable] TAX
duty based on a fixed amount of money for each unit of quantity or weight of a product, rather than its value:

• specific duties on tobacco and alcohol to replace the old ad valorem system

ˈstamp ˌduty [uncountable] TAX
tax that has to be paid in some countries when buying and selling things such as shares, property etc:

• Dealings in the certificates will incur the 1% stamp duty levied on all share dealings.

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Ⅰ.
duty UK US /ˈdjuːti/ US  /ˈduːti/ noun (plural duties)
[C or U] LAW a responsibility to do something because it is legally or morally right to do it: »

Every lawyer has a strong sense of duty and responsibility.

a duty to do sth »

They have a duty to ensure customers receive sound advice.

be sb's duty »

It is your duty to announce any conflict of interest.

do your duty »

I felt that I had done my duty in reporting the incident to the police.

»

It was alleged that the company had failed in its duty to advise customers of the technical aspects of the paint system.

[C, usually plural] HR something that you have to do because it is part of your job: »

His duties included photographing engineering projects such as bridges and airfields.

perform/undertake/do duties »

People employed under similar conditions should not be paid less than others performing similar duties.

»

teaching/cleaning/administrative duties

[U] HR one of the periods of time that a working day is divided into during which someone works: night/day duty »

Daniels volunteered for night duty so he could take classes at the University of Arizona.

[C or U] TAX, COMMERCE a tax paid on goods that are bought or imported: duty on sth »

He said that duty on a bottle of wine in France is equivalent to 2p compared with £1.16 here.

impose/raise/increase duty »

The duty on house purchases of £250,000 or more was increased to 2.5%.

»

a cut/rise/increase in duty

»

fuel/tobacco/petrol duty

See Note TAX(Cf. tax)
off duty — Cf. off duty
on duty — Cf. on duty
See also BREACH OF DUTY(Cf. ↑breach of duty), COUNTERVAILING DUTY(Cf. ↑countervailing duty), CUSTOMS DUTY(Cf. ↑customs duty), DEATH DUTY(Cf. ↑death duty), DISCRIMINATING DUTY(Cf. ↑discriminating duty), DUTY-FREE(Cf. ↑duty-free), ESTATE DUTY(Cf. ↑estate duty), EXCISE DUTY(Cf. ↑excise duty), EXPORT DUTY(Cf. ↑export duty), HEAVY-DUTY(Cf. ↑heavy-duty), IMPORT DUTY(Cf. ↑import duty), LIGHT-DUTY(Cf. ↑light-duty), MEDIUM-DUTY(Cf. ↑medium-duty), SPECIFIC DUTY(Cf. ↑specific duty), STAMP DUTY(Cf. ↑stamp duty)
Ⅱ.
duty UK US /ˈdjuːti/ US  /ˈduːti/ adjective [before noun]
HR used to describe the person who is on duty at a particular time: »

duty engineer/manager/solicitor


Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

  • duty — du·ty n pl du·ties [Anglo French deuté indebtedness, obligation, from deu owing, due, from Old French see due] 1: tasks, service, or functions that arise from one s position performing a police officer s duties; also: a period of being on duty… …   Law dictionary

  • Duty — • The definition of the term duty given by lexicographers is: something that is due , obligatory service ; something that one is bound to perform or to avoid Catholic Encyclopedia. Kevin Knight. 2006. Duty     Duty …   Catholic encyclopedia

  • Duty — Du ty, n.; pl. {Duties}. [From {Due}.] 1. That which is due; payment. [Obs. as signifying a material thing.] [1913 Webster] When thou receivest money for thy labor or ware, thou receivest thy duty. Tyndale. [1913 Webster] 2. That which a person… …   The Collaborative International Dictionary of English

  • DUTY — DUTY, an action that one is obligated to perform; a feeling, or sense, of obligation. In Judaism man s duties are determined by God s commandments. The entire biblical and rabbinic conception of man s role in the world is subsumed under the… …   Encyclopedia of Judaism

  • duty — [do͞ot′ē, dyo͞ot′ē] n. pl. duties [ME duete < Anglo Fr dueté, what is due (owing): see DUE & TY1] 1. the obedience or respect that one should show toward one s parents, older people, etc. 2. conduct based on moral or legal obligation, or a… …   English World dictionary

  • Duty — Saltar a navegación, búsqueda Duty Álbum de estudio de Ayumi Hamasaki Publicación …   Wikipedia Español

  • Duty — Album par Ayumi Hamasaki Sortie 27 septembre 2000 Durée 51:45 Genre …   Wikipédia en Français

  • duty — [n1] responsibility, assignment burden, business, calling, charge, chore, commission, commitment, committal, contract, devoir, dues, engagement, function, hook*, job, load, millstone*, minding the store*, mission, must, need, obligation,… …   New thesaurus

  • duty — ► NOUN (pl. duties) 1) a moral or legal obligation. 2) a task required as part of one s job. 3) a payment levied on the import, export, manufacture, or sale of goods. 4) Brit. a payment levied on the transfer of property, for licences, and for… …   English terms dictionary

  • duty — late 13c., from Anglo Fr. duete, from O.Fr. deu due, owed; proper, just, from V.L. *debutus, from L. debitus, pp. of debere to owe (see DEBT (Cf. debt)). Related: Duties. The sense of tax or fee on imports, exports, etc. is from late 15c.; duty… …   Etymology dictionary

  • duty — 1 Obligation Analogous words: responsibility, accountability, amenability, answerability, liability (see corresponding adjectives at RESPONSIBLE) 2 office, *function, province Analogous words: concern, business, *affair 3 *task …   New Dictionary of Synonyms


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