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The island currently attracts over 900,000 visitors annually. St Lucia has been able to attract foreign businesses and investment, especially in its offshore banking and tourism industries. Tourism is St Lucia's main source of jobs and income, accounting for 65% of GDP, and the island's main source of foreign exchange earnings. [23]
The term is often used to describe a tax on certain items purchased abroad. [1] A duty is levied on specific commodities, financial transactions, estates, etc. rather than being a direct imposition on individuals or corporations such income or property taxes. Examples include customs duty, excise duty, stamp duty, estate duty, and gift duty.
In certain countries, the national tax authorities that are responsible for collecting those duties are named Customs and Excise, including: HM Customs and Excise, a department of the British government until 2005; HM Revenue and Customs a department formed by the merger of HM Customs and Excise with Inland Revenue in 2005; Hong Kong Customs ...
Alcohol Tax: There is an excise tax on beer ($37.01 per hectoliter), wine ($0.731 per liter) and spirits ($13.864 per liter of absolute ethyl alcohol) Tobacco Tax: The federal excise tax on cigarettes is $0.79162 per 5 cigarettes. There are also excise duties on tobacco sticks or cigars or even cannabis which is legalized in Canada.
Customs duties vary by country of origin and product, with duties ranging from zero to 81% of the value of the goods. Goods from many countries are exempt from duty under various trade agreements. Certain types of goods are exempt from duty regardless of source. Customs rules differ from other import restrictions.
The import or export of some goods may be restricted or forbidden, in which case customs controls enforce such policies. [80] Customs enforcement at borders can also entail collecting excise tax and preventing the smuggling of dangerous or illegal goods. A customs duty is a tariff or tax on the importation (usually) or exportation (unusually ...
Canadian customs officers are members of the Canada Border Services Agency.It was created in 2003 and preceded by the Canada Customs and Revenue Agency (1999-2003). Customs officers has existed since 1868 under various departments: Customs Office, Customs and Inland Revenue from 1918 to 1923, Customs and Excise from 1923 to 1927 and Revenue Department from 1927 to 1999.
Members of the accountancy bodies which had previously been active in the region (the Institute of Chartered Accountants of Antigua and Barbuda, the St Kitts-Nevis Association of Chartered Accountants and the Institute of Chartered Accountants of St Lucia) became the founder members of the ICAEC which established 3 branches in St Kitts & Nevis ...