A place where dutiable goods are kept until duties on them are paid is known as
Question 1 Report
A place where dutiable goods are kept until duties on them are paid is known as
Answer Details
A place where dutiable goods are kept until duties on them are paid is known as a "bonded warehouse". This type of warehouse is often used in international trade, where goods may need to be stored for a period of time before they are cleared through customs and duties are paid. The bonded warehouse allows for the storage of goods without the payment of duties until the goods are ready to be released for sale or distribution. This can be beneficial to importers as it allows them to delay payment of duties until they are ready to sell or use the goods, which can help to improve cash flow.
Download The App On Google Playstore
Everything you need to excel in your exams
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning