excise duty

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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 duty

an INDIRECT TAX imposed by the government on a product, principally those such as tobacco, petrol and alcoholic drinks, the demand for which is highly price-inelastic (see ELASTICITY OF DEMAND). Governments use excise duties both as a means of raising revenue (see BUDGET) and as an instrument of FISCAL POLICY. See CUSTOMS AND EXCISE.

excise duty

an INDIRECT TAX levied by the government on certain goods, most notably tobacco, oil and alcoholic drink. Demand for these goods is price inelastic (see PRICE ELASTICITY OF DEMAND) so that duty increases, implemented as part of FISCAL POLICY, will not only raise government revenue but also leave customers with less money to spend on other goods. See TAXATION.
References in periodicals archive ?
As part of the first phase of implementing the Cabinet Decision, the FTA called on producers, importers, and stockpilers of sweetened drinks with added sugar to abide by the Decision and start registering for excise tax purposes, noting that Excise Tax is an indirect tax that is imposed on certain products deemed harmful in an effort to curb their consumption.
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, pointed out that these new amendments to the Cabinet's decision on excise tax are part of the UAE's keenness to reduce harmful consumer practices by establishing a legislative and procedural base that supports national efforts to curb unhealthy practices that cause chronic diseases.
The Revenue Service indicated that in the first half of 2019 excise revenue was mostly affected by changed tax rates.
The FTA called on all businesses dealing with excise goods to follow the new process of registering excise goods and ensure all required documents are readily available when submitting the registration request for the goods.
Chawla said that it showed that the officers and officials of Sindh excise department were working hard to eliminate the drug peddlers, adding that all stakeholders had to work together for discouraging the use of the drugs in new generation.
Meanwhile Sindh Minister for Excise and Taxation and Narcotics Control and Parliamentary Affairs Mukesh Kumar Chawla expressed hope that the Excise officials would continue their efforts against drug peddlers.
2233 increasing the excise tax on tobacco products,' Executive Secretary Salvador Medialdea said in a text message yesterday.
That apart, secretary excise Nabil Awan has issued orders which dictate that property tax challans - along with all other types of challans - will be issued through computerised printing.
According to Director Excise and Taxation, Rawalpindi, Muhammad Sohail Arshad, the property, motor and professional tax payers can visit the Excise Offices to pay the taxes on Saturday and Sunday.
Muscat: The electronic system for registration of taxpayers subject to excise tax, which will be implemented from June 15, in terms of submitting the required tax returns and the subsequent paying of the tax due, is ready.
QUETTA: Advisor to CM for Excise and Taxation Malik Naeem Bazai said, the Excise Department has been progressing its tax collection target added government has decided to take strict action against corrupt elements in government departments.
The list of consumer products that were chosen by the government for levying excise tax last month is 'not final' even as some goods could either be added or removed from the list, an official of the General Tax Authority (GTA) said at a seminar on excise tax organised by Qatar Chamber on Wednesday.