Definition: Duties Calculation and Payment is an IT concept that refers to the use of software or digital platforms to calculate and pay customs duties and taxes. It is often used in international trade and e-commerce to ensure compliance with various tax laws and regulations. Source: Investopedia Source reference: https://www.investopedia.com/terms/d/duty.asp Additional information: The concept of Duties Calculation and Payment involves the use of IT systems to automate the process of calculating and paying duties. This can include import and export duties, excise duties, and other types of taxes that are applicable to goods and services that cross international borders. The system can be integrated with other IT systems such as inventory management, accounting, and e-commerce platforms. It can also handle different types of duties and taxes, including variable rates, fixed rates, and compound rates. The system can also handle different currencies, exchange rates, and tax jurisdictions. It can also generate reports and records for audit and compliance purposes. Example: Examples of application include e-commerce platforms that calculate and collect duties and taxes at the point of sale, shipping companies that calculate and pay duties on behalf of their customers, and multinational corporations that use IT systems to manage their global tax liabilities. Another example is the use of IT systems by customs authorities to calculate and collect duties and taxes from importers and exporters. LOST view: TVA-Customs Duties and Tariffs Management Enablers [Motivation] Identifier: http://data.europa.eu/dr8/egovera/DutiesCalculationAndPaymentBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:DutiesCalculationAndPaymentBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-08-08 dct:identifier: http://data.europa.eu/dr8/egovera/DutiesCalculationAndPaymentBusinessService dct:title: Duties calculation and payment Digital Public Service