Duty Avoidance

Posted in Operations and Supply Chain Terms, Total Reads: 1333

Definition: Duty Avoidance

Duty Avoidance can be defined as the process of reducing the duty that has to be paid by the organization or an individual through the use of legal methods. 

These methods are in accordance with the law and the regulations allow for some deductions and credits in the total amount on which the duty is to be imposed. Thus due to reduction of this total amount, the duty to be imposed also gets reduced.

Duty avoidance is very similar to income tax avoidance, where individuals can reduce their income tax to be paid by following methods provided by law like specific investments up to some amounts, deductions on allowances, etc.

Browse the definition and meaning of more terms similar to Duty Avoidance. The Management Dictionary covers over 7000 business concepts from 6 categories.

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