What term refers to the reduction or diminution of duties and taxes where payment has not been made?

What term refers to the reduction or diminution of duties and taxes where payment has not been made?

• A. Abatement
• B. Exemption
• C. Assessment
• D. Access

Answer: (A)

Abatement means a reduction in the amount owed, including duties and taxes. This fits the idea of lowering what must be paid, even in situations where payment hasn’t been made yet. In customs practice, duties can be abated for various reasons, such as corrections, relief provisions, or favorable treatment, so the payable amount is lowered rather than eliminated entirely. Exemption would remove the obligation altogether, not merely reduce it. Assessment is the process of determining how much is owed, not a reduction. Access isn’t a term used for this concept.

Abatement means a reduction in the amount owed, including duties and taxes. This fits the idea of lowering what must be paid, even in situations where payment hasn’t been made yet. In customs practice, duties can be abated for various reasons, such as corrections, relief provisions, or favorable treatment, so the payable amount is lowered rather than eliminated entirely. Exemption would remove the obligation altogether, not merely reduce it. Assessment is the process of determining how much is owed, not a reduction. Access isn’t a term used for this concept.