Tariffs are taxes imposed on imported or exported goods. There are several types of tariffs including specific tariffs (fixed amount per unit), ad valorem tariffs (fixed percentage of value), and compound tariffs (combination of specific and ad valorem). Tariffs can be used for revenue generation or protecting domestic industries. Quotas limit the quantity of goods that can be imported, and include tariff quotas, unilateral quotas negotiated bilaterally. Import licensing systems administer quota regulations by requiring licenses to import goods.
Balance of Payment Disequilibrium and CausesNeema Gladys
1.Balance of Payment
The balance of payment of a country is a systematic accounting record of all economic transactions during a given period of time between the residents of the country and residents of foreign countries.
2.Componets of BOP
Current Account
It includes imports and exports of goods and services and unilateral transfer of goods and services.
Capital Account
Under this are grouped transactions leading to changes in foreign assets and liabilities of the country.
3. Accounting Treatment of Items (Debit and Credit Items)
Any item which gives rise to a sale of foreign exchange (an inflow) is recorded as a credit item (+) in the accounts e.g. export of goods and services
Any item which gives rise to the purchase of foreign exchange (an outflow) is recorded as a debit item (-) in the accounts e.g imports of goods and services.
4. BOP Disequilibrium
BOP is a double entry accounting record, then apart from errors and omissions, it must always balance.
The BOP deficit or surplus indicate imbalance in the BOP.
This imbalance is interpreted as BOP Disequilibrium.
A country’s balance of payments is said to be in disequilibrium when its autonomous receipts (credits) are not equal to its autonomous payments (debits).
5.BOP Deficit
A deficit or an unfavorable balance exists when the value of autonomous debit items exceeds the value of autonomous credit items.
6. BOP Surplus
A surplus or a favourable balance exists when the value of autonomous credit items exceeds the value of autonomous debit items.
Non-Tariff barriers are trade barriers that restrict imports but are not in the usual form of a tariff.
Some common examples are anti-dumping measures and countervailing duties also called non-tariff barriers.
Non-Tariff barriers include macro-economic measures affecting trade.
Non-Tariff barriers comes under Trade Policy.
Balance of Payment Disequilibrium and CausesNeema Gladys
1.Balance of Payment
The balance of payment of a country is a systematic accounting record of all economic transactions during a given period of time between the residents of the country and residents of foreign countries.
2.Componets of BOP
Current Account
It includes imports and exports of goods and services and unilateral transfer of goods and services.
Capital Account
Under this are grouped transactions leading to changes in foreign assets and liabilities of the country.
3. Accounting Treatment of Items (Debit and Credit Items)
Any item which gives rise to a sale of foreign exchange (an inflow) is recorded as a credit item (+) in the accounts e.g. export of goods and services
Any item which gives rise to the purchase of foreign exchange (an outflow) is recorded as a debit item (-) in the accounts e.g imports of goods and services.
4. BOP Disequilibrium
BOP is a double entry accounting record, then apart from errors and omissions, it must always balance.
The BOP deficit or surplus indicate imbalance in the BOP.
This imbalance is interpreted as BOP Disequilibrium.
A country’s balance of payments is said to be in disequilibrium when its autonomous receipts (credits) are not equal to its autonomous payments (debits).
5.BOP Deficit
A deficit or an unfavorable balance exists when the value of autonomous debit items exceeds the value of autonomous credit items.
6. BOP Surplus
A surplus or a favourable balance exists when the value of autonomous credit items exceeds the value of autonomous debit items.
Non-Tariff barriers are trade barriers that restrict imports but are not in the usual form of a tariff.
Some common examples are anti-dumping measures and countervailing duties also called non-tariff barriers.
Non-Tariff barriers include macro-economic measures affecting trade.
Non-Tariff barriers comes under Trade Policy.
Trade is voluntary and non-fraudulent, exchange of goods and services among people and countries.
When a trade occurs between nations or cross-border it is called International Trade.
The Barrier is any hurdle which creates resistance. Or a structure or object that blocks free movement. simply it is Hinderance in the flow of something.
A trade barrier is defined as “any hurdle, obstacle or roadblock that hampers the smooth flow of goods, services, and payments from one destination to another”.
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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2. TARIFF
A tariff is a duty or tax imposed by the government of a country upon the
traded commodity as it crosses the national boundaries.
Tariff can be levied both upon exports and imports.
The tariff or duties imposed upon the goods originating in the home
country and scheduled for abroad are called as the export duties.
Countries, interested in maximizing their exports generally avoid the use of
export duties. Tariffs have, therefore, become synonymous with import
duties.
3. TYPES OF TARIFFS
CLASSIFICATION ON THE BASIS OF CRITERION FOR IMPOSITION
(a) Specific Tariff
Specific tariff is the fixed amount of money per physical unit or according to the
weight or measurement of the commodity imported or exported.
Such duties can be levied on goods like wheat, rice, fertilizers, cement, sugar,
cloth etc.
Specific duties are quite easy to administer, as they do not involve the
evaluation of the goods.
4. AD VALOREM TARIFF
‘Ad Valorem’ is the Latin word that means ‘on the value.’
When the duty is levied as a fixed percentage of the value of the traded
commodity, it is called as valorem tariff.
Such duties are levied on the products the value of which is disproportionately
higher compared to their physical characteristics such as weight or measurement.
5. COMPOUND TARIFF
The compound tariff is a combination of specific and ad valorem tariff.
The structure of compound tariff includes specific duty on each unit of the
commodity plus a percentage of ad valorem duty.
The compound tariffs not only impart a greater elasticity to revenues but
also assure a more effective protection to the home industries.
6. D) SLIDING SCALE TARIFF
The import duties which vary with the prices of the commodities
are termed as sliding scale duties.
These may either be on specific or ad valorem basis. In practice,
these are generally on a specific basis.
7. CLASSIFICATION ON THE BASIS OF PURPOSE FOR WHICH
TARIFF IS IMPOSED
(a) Revenue Tariff
The tariff, which is imposed primarily for generating more revenues for the
government is called as the revenue tariff.
(b) Protective Tariff
The tariff may be imposed by the government to protect the home industries
from the cut-throat competition from the foreign produced goods.
The higher the tariff, greater may be the protective effect of tariff. A perfect
protective tariff is likely to prohibit completely the import from abroad.
8. CLASSIFICATION ON THE BASIS OF DISCRIMINATION
(a) Non-Discriminatory Tariff
If the uniform tariff rates are applicable to all the commodities irrespective of the
country of origin, these are known as non-discriminatory tariffs.
Such a system of nondiscriminatory tariff is called as single column tariff. This system
of tariff is easy and simple to administer.
(b) Discriminatory Tariff
In case of discriminatory tariff, the varying tariff rates exist for different commodities.
The products originating from favored countries are subject to a lower tariff rate than those
of other countries. The discriminatory tariffs can be double or multiple column tariffs. In
case of the double column tariff, two different rates of duty exist for all or some
commodities.
Both the rates are either announced by the government right from the beginning and the
two rates come into existence after the country enters into favored-nation commercial
agreement with some foreign countries. The favored rates of tariff may either be on a
unilateral basis or on a reciprocal basis.
9. CLASSIFICATION ON THE BASIS OF PRODUCTS
(a) Import Duties If the home country imposes tariff upon the products of the foreign
countries as they enter its territory, the tariff is known as import tariff or import duty.
(b) Export Duties If the products of the home country become subject to tax as they leave
its territory to be sold in the foreign market, the tax or duty is called as export tariff or
export duty.
The import tariffs have remained the matter of deep interest both for analytical and policy
reasons. These are far more wide-spread, and almost every country takes resort to them. In
contrast, the export duties are applied to a very limited extent. Some countries like the USA
have prohibited export duties by law. Even in those countries, where these are in vogue, the
basic purpose is to secure larger revenues
10. QUOTA
The import quota means physical limitation of the quantities of
different products to be imported from foreign countries within a
specified period of time, usually one year.
The import quota may be fixed either in terms of quantity or the
value of the product.
11. TYPES
1. The Tariff Quota
The tariff or customs quota is a widely acclaimed measure.
Under this system, import of a commodity up to a specified quantity is
allowed to be imported duty-free or at a special low rate of duty.
But imports in excess of this fixed limit are charged a higher rate of duty.
The tariff quota thus combines the features of a tariff with those of quota.
Flexibility is another advantage of this system.
12. DRAWBACKS OF IT
(i) When imports tend to be more than the fixed limit assigned
under low duty rate, the entire gains from the low rate are shared
by the exporting country.
(ii) It brings a rush of imports in the beginning of each new tariff
quota, which may disturb domestic price levels of the importing
country.
13. 2. THE UNILATERAL QUOTA
Under this system, a country places an absolute limit on the importation of
a commodity during a given period.
It is imposed without prior negotiation with foreign governments. The
quota so fixed may be either global or allocated.
Under global quota, the commodity can be imported from any country up
to the full amount of the quota. Under an allocated quota system, however,
the total of the quota is distributed among specified supplying countries.
The global quota system, however, cannot be treated as a very satisfactory
device, as it invariably tends to favor nearby supplier countries as against
the distant ones.
It also tends to operate against the smaller or less organized supplier
countries. It may periodically cause over supply and greater price
fluctuations as it provokes a race among importers to fill up the quota.
14. DRAWBACKS OF IT
(i) it imposes an undesirable rigidity as to source of supply,
(ii) it does not consider costs and other aspects of supply
conditions abroad,
(iii) it gives rise to monopoly-like action among those exporters who
are assured of a specific share of the quota,
(iv) it involves large economic and administrative difficulties in
allocating quotas.
15. 3. THE BILATERAL QUOTA
Under this system, quotas are set through negotiation between the importing
country and the exporting country (or foreign export groups).
It has the following merits:
(i) Quotas are decided by mutual agreement;
(ii) It minimizes the suspicion of discrimination;
(iii) It avoids excessive fluctuations in imports;
(iv) It excludes export monopolies by agreement;
(v) It is less arbitrary, and,
Therefore, arouses less or no opposition from the exporting countries. Thus, it
provokes no retaliation activity.
16. OBJECTIONS RAISED AGAINST THE SYSTEM ARE
1. It tends to fall into the clutches of existing international cartels.
2. It also opens the way to corruption on a large scale.
3. It has a tendency to raise prices in the exporting country, so that the
importing country may lose.
4. It is a device for an open invitation to monopoly in the exporting
country.
17. 4. THE MIXING QUOTA
It is a type of regulation which requires producers to utilize a certain
proportion of domestic raw materials along with imported parts to
produce finished goods domestically.
It thus sets limits on the proportion of foreign-made raw materials to
be imported and used in domestic production.
Such mixing regulations have two broad objectives:
(i) To assist domestic producers of raw materials,
(ii) To save scarce foreign exchange.
18. 5. IMPORT LICENSING:
The mechanism of import licensing has been evolved as a system devised
to administer quota regulations.
Under this, prospective importers are required to obtain a license from the
proper authorities for importing any quantity within the specified quotas.
Licenses are generally distributed among established importers keeping in
view their share in the country’s import trend.
19. Import licensing has become a leading type of quantitative restriction
during the post-war period,
Merits:
(i) It provides much closer control over the volume of imports.
(ii) It tends to minimize speculative activity.
(iii) It reduces excessive fluctuations in prices produced by the scramble
to import before the quota is filled (in the absence of licensing system).
(iv) It allows an even supply, which leads to continuity in availability of
reasonable prices so that internal prices may be stabilized.
(v) It allows a high degree of flexibility in the restriction of imports.
(vi) It permits a country to control the demand of its nationals for foreign
exchange.
20. DRAWBACKS,
(i) It creates a sort of monopoly among importers;
(ii) It leads to corruption in obtaining licenses;
(iii) It leads to black-marketing in imported goods by selling
the licenses at high premium rates.