What is the difference between the adjectives "duty-free", "tax-free" and "tax exempt"?
As usual no dictionary could help me distinguish between them. Please have a look on e.g. Cambridge's definitions:
- Duty-free goods are goods bought in special shops in airports, on ships, etc. on which you do not pay government tax.
- If something is tax-free, you do not pay tax on it.
- Used to describe a product, service, or financial arrangement on which no taxes have to be paid.
Now, I wonder:
What shall I call a product that its sale does not include tax.
What do you call a person/company which is not compelled to pay any tax.
To me, "tax-free" and "tax-exempt" are pretty much interchangeable and can be swapped freely for both cases #1/2 without any specific change in the meaning, whereas the term "duty-free" is only belongs to the products free of tax within airports/ships.