Term:
Custom Duty Bill
Definition:
Special type of credit in France granted by the state to corporations to allow them to pay indirect taxes or customs duty, with a guarantee provided by a bank or other financial institution. These bills allow the corporation to defer payment of value-added tax or onstoms duties. The state draws up a bill for the amount in question which the corporation agrees to pay on maturity.
Domain:
Finance
Source:
World Bank: Glossary of Finance and Debt