OCTROI Meaning and
Definition
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Octroi refers to a type of tax or duty that is levied on goods and commodities as they enter or exit a particular area or region. Derived from the French word "octroyer" meaning "to grant," octroi was historically granted by the ruling authorities as a means of generating revenue for the local government. This tax is typically imposed at the point of entry of the goods, such as city gates or toll booths.
The purpose of octroi is twofold. Firstly, it serves as a means for the governing bodies to finance public services and infrastructure, such as roads, bridges, or sanitation systems within their jurisdiction. Secondly, it acts as a measure of protectionism, safeguarding the interests of local industries by discouraging or restricting the entry of competitive products from other regions.
Historically, octroi taxes were prevalent in Europe, especially during the medieval and early modern periods. They were often imposed by cities or towns that had the authority to control trade and commerce in their area. While octroi taxes have declined in importance in many regions due to changes in trade regulations and the advent of free trade agreements, they can still be found in select locations around the world.
Overall, octroi represents a form of taxation that aims to collect revenue and simultaneously regulate trade at the point of entry or exit, typically within a specific jurisdiction.
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A tax levied at the gates of a French city on all articles brought into it.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for OCTROI
- ictroi
- kctroi
- lctroi
- pctroi
- 0ctroi
- 9ctroi
- oxtroi
- ovtroi
- oftroi
- odtroi
- ocrroi
- ocfroi
- ocgroi
- ocyroi
- oc6roi
- oc5roi
- octeoi
- octdoi
- octfoi
- ocytroi
Etymology of OCTROI
The word "octroi" is derived from the French word "octroyer", which means "to grant" or "to give permission". It originated in the 14th century as a legal term used to describe the act of granting or authorizing certain privileges or rights. Eventually, it came to specifically refer to a tax or duty levied on goods entering a city or region, granted or authorized by the local authorities. The term has been used in various languages, including English, to refer to this type of tax or duty.
Similar spelling word for OCTROI
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