international trade

Chirundu Border Post. Image credit trademarksa.org ZIMSEC O Level Commerce Notes: Functions of customs and excise authorities

• Collect and revenue for the government by charging customs and excise duties.
• Collect, keep and analyse records of imported and exported goods and services.
• Control bonded warehouses to ensure that duty […]
  

ZIMRA’s bonded warehouse at Chirundu Border Post. Image credit zimboguide.co.zw ZIMSEC O Level Commerce Notes: Bonded warehouses and International Trade

• Bonded Warehouses are also looked at under the Warehousing Topic here.

Why customs authorities control bonded warehouses

• Bonded warehouses are used to store […]
  

Image credit sofiaecho.com ZIMSEC O Level Commerce Notes: Excise Duty

Why excise duty is paid?

• Excise duty is taxed on certain specified home produced goods for example tobacco meant for consumption in the home market in order to:
• Raise revenue for the government.
• Discourage consumption of dangerous products.
• Reduce domestic demand.
• Release more […]
  

Zafana Trade brokers. Image credit zafanankositrading.com ZIMSEC O Level Commerce Notes: Brokers

Brokers

• Work in foreign trade as agents.
• Bring buyers and sellers into contact
• Buy or sell goods on behalf of their principals ( who can be manufacturers or importers)
• Do not possess the goods they sell but […]
  

image credit uthmag.com ZIMSEC O Level Commerce Notes: International trade: Del Credere Agents

Del credere agents.

• Del credere is Italian for “to trust”
• Possess the goods they sell.
• Have insurable interest on the goods in their possession
• Sell goods on behalf of their principals.
• Sell goods in their own names.
• Deliver goods to […]