Definition: Tariff Suspensions is an IT concept that refers to the temporary elimination or reduction of import duties on certain products. This is often done to encourage importation of goods that are not readily available domestically, or to provide relief for industries that rely heavily on imported goods. Source: Investopedia Source reference: https://www.investopedia.com/terms/t/tariff.asp Additional information: In the context of IT, Tariff Suspensions can be applied to the importation of certain hardware or software products. This could be beneficial for IT companies that rely on importing certain goods for their operations. For instance, if a country lacks the necessary infrastructure to produce certain IT equipment, the government might implement a tariff suspension to encourage companies to import these goods. This can help to stimulate the IT sector and promote technological advancement. It's important to note that tariff suspensions are temporary and are usually implemented for a specific period of time. Example: For example, a country might implement a tariff suspension on the importation of computer servers. This would make it cheaper for IT companies to import these servers, which could in turn lead to lower prices for consumers. Another example could be a tariff suspension on certain software products, which would make it more affordable for companies to purchase and use these products in their operations. LOST view: TVA-Customs Duties and Tariffs Management Enablers [Motivation] Identifier: http://data.europa.eu/dr8/egovera/TariffSuspensionsBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:TariffSuspensionsBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-08-08 dct:identifier: http://data.europa.eu/dr8/egovera/TariffSuspensionsBusinessService dct:title: Tariff Suspensions Digital Public Service