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What is difference between the Tariff and tax
Solution
Difference between Tax and Tariff:-
Tax is a compulsory payment made by an individual, household or a firm to the government
without reference to anything in return. In other words, Tax is a legally compulsory payment
imposed on the people by the government.
Tariff is a tax imposed on imported goods and services. They are to increase the price of
imported goods and services and thereby restrict the trade.
Conclusion:-Taxes are collected internally whereas Tariffs are collected on import of goods and
services.

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What is difference between the Tariff and tax SolutionDifferen.pdf

  • 1. What is difference between the Tariff and tax Solution Difference between Tax and Tariff:- Tax is a compulsory payment made by an individual, household or a firm to the government without reference to anything in return. In other words, Tax is a legally compulsory payment imposed on the people by the government. Tariff is a tax imposed on imported goods and services. They are to increase the price of imported goods and services and thereby restrict the trade. Conclusion:-Taxes are collected internally whereas Tariffs are collected on import of goods and services.