excise tax

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Related to Excise Duties: excise tax, Corporate tax, sales tax, Value added tax

Excise tax

Federal or state tax placed on the sale or manufacture of a commodity, typically a luxury item e.g., alcohol.

Excise Tax

A tax on the manufacture or sale of a good or service over and above all other taxes paid on it. For example, a person may owe sales tax on the purchase of tobacco, but the state may also levy an excise tax on top of it. Likewise, one may owe both income taxes and excise taxes on a premature distribution of an IRA. See also: Sin tax.

excise tax

A tax on the manufacture, purchase, or sale of a good or service. The tax may be based on the number of units or on value. Compare consumption tax.
References in periodicals archive ?
This year's Budget proposals may see a rise in excise duties levied on SUVs.
"Bulgaria's government should consider bringing up the proposal for the abolishment of the excise duties' minimum rates in EU," was the party's official position, expressed on Tuesday.
The ESC suggests an increase in excise duties "is not likely to reduce the demand for transport" but rather to provide additional resources to enable the negative impact on the environment to be reduced, provided that the funding is earmarked for this purpose.
"The increase in cigarette excise duties hit the market in April and the assessment of its effect is yet to be done.
Under a 2004 Polish law, excise duties are indeed levied on the purchase of second-hand cars originating in other member states, but not on the acquisition of a second-hand car already registered in Poland.
As a result, in order to mitigate illegal smuggling that would result from higher beer prices relative to its regional peers, which was caused by the increase in excise duties, the company has, for the time being, decided to absorb the excise increase on its non-returnable packs.
New Delhi, March 28 -- The recent hike in excise duties in the union budget had all auto makers hike the price son their models and now it has been reported that after increasing the price of its flagship sedan City by up to Rs 10,500 following excise duty hike in Budget, Honda Siel Cars has announced that it will further raise the price of the model by up to Rs 10,000 from April 1.
The raising of minimum alcohol excise duties will have to wait.
I congratulate Pranab Mukherjee for not raising excise duties on vehicles.
Led by Germany, beer producer countries have rejected the Finnish compromise tabled before the Committee of Permanent Representatives (CoRePer) on the raising of excise duties on alcoholic beverages (spirits, intermediate products and beer).
Pending the general introduction of paperless' administrative procedures, scheduled for 2009 for excise duties, the European Union took an important step on 16 October toward simplifying and improving the security of excise duty declarations.
As expected, the European Commission adopted a report, on May 26, advocating higher excise duties on alcohol (details in Europe Information 2871).