In economics, a duty is a kind of tax, often associated with customs, a payment due to the revenue of a state, levied by force of law. Properly, a duty differs from a tax in being levied on specific commodities, financial transactions, estates, etc., and not on individuals; thus it is right to talk of import duties, excise duties, death or succession duties, etc., but not of income tax as being levied on a person in proportion to his income. Face-to-face trading interactions among on the New York Stock Exchange trading floor Economics, as a social science, studies human choice behavior and how it affects the production, distribution, and consumption of scarce resources. ... A tax (also known as a duty) is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ... Customs duty is a tariff or tax on the import or export of goods. ... The word commodity is a term with distinct meanings in business and in Marxian political economy. ... A financial transaction involves a change in the status of the finances of two or more businesses or individuals. ... Estate is a term used in the common law. ... The term excise has more than one legal meaning. ... For other uses, see Death (disambiguation). ... Inheritance is the practice of passing on property, titles, debts, and obligations upon the death of an individual. ... An income tax is a tax levied on the financial income of persons, corporations or other legal entities. ...

Duty Free is the term that is often used to describe goods bought at ports and airports that do not attract the usual government taxes and customs duties. Seaport, a painting by Claude Lorrain, 1638 The Port of Wellington at night. ...

Some countries impose allowances in order to restrict the number of Duty Free items that one person can import into the country. These restrictions often apply to tobacco, wine, spirits, perfume, eau de toilette, gifts and souvenirs. The examples and perspective in this article or section may not represent a worldwide view. ... on tobacco usage see Tobacco smoking Species Nicotiana acuminata Nicotiana alata Nicotiana attenuata Nicotiana benthamiana Nicotiana clevelandii Nicotiana excelsior Nicotiana forgetiana Nicotiana glauca Nicotiana glutinosa Nicotiana langsdorffii Nicotiana longiflora Nicotiana obtusifolia Nicotiana paniculata Nicotiana plumbagifolia Nicotiana quadrivalvis Nicotiana repanda Nicotiana rustica Nicotianasuaveolens Nicotiana sylvestris Nicotiana tabacum Nicotiana tomentosa Ref: ITIS... Wine is an alcoholic beverage produced by the fermentation of the juice of fruits, usually grapes. ... Spirits redirects here. ... Perfume is a mixture of fragrant essential oils and aroma compounds, fixatives, and solvents used to give the human body, objects, and living spaces a pleasant smell. ... Eau de toilette is a fragrance of relatively low odor intensity (5-10% aromatic oils) and originally intended to be used to refresh oneself. ... A gift or present is the transfer of money or goods without requiring something in return (at least not immediately); by extension it can be anything that makes the other more happy or less sad, especially as a favor, including forgiveness, and kindness (even when the other is not kind). ... A souvenir stall in London, England A souvenir (from the French for memory) is an object that is treasured for the memories associated with it. ...

But in some entities, such as Hong Kong, "duty free" becomes meaningless as they do not impose any sales tax or custom duty on any goods except tobacco and alcohol. In chemistry, an alcohol is any organic compound in which a hydroxyl group (-OH) is bound to a carbon atom of an alkyl or substituted alkyl group. ...

See also

• Tariff
• Free economic zone
• Free port
• Duty-free shop