Definition
Customs are government agencies responsible for regulating and controlling the flow of goods in and out of a country's borders. They enforce import and export regulations, collect customs duties and taxes, and prevent the illegal trafficking of goods. Customs agencies play a crucial role in facilitating international trade and ensuring compliance with trade laws and regulations.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.