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LSDefine
Simple English definitions for legal terms
impost
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A quick definition of impost:
Impost is a tax or duty that is charged on things like imported goods. It's like a fee that you have to pay when you bring something into a country or when you buy something. It's a way for the government to make money and regulate trade.A more thorough explanation:
Definition: A tax or duty, especially a customs duty.
Example: When a ship reaches the mainland, an impost is assessed on the goods it is carrying.
Explanation: An impost is a tax or duty that is imposed on goods that are being imported or exported. In the example given, when a ship reaches the mainland, the authorities assess an impost on the goods it is carrying. This means that the ship's owner has to pay a tax on the goods before they can be sold or distributed in the country. The purpose of an impost is to raise revenue for the government and to protect local industries from foreign competition.