excise

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excise

1. a tax on goods, such as spirits, produced for the home market
2. a tax paid for a licence to carry out various trades, sports, etc.
3. Brit that section of the government service responsible for the collection of excise, now the Board of Customs and Excise

Excise

 

one of the forms of indirect taxation, primarily on objects of mass consumption (such as salt, sugar, and matches), and also on municipal, transportation, and other widely used services. Excise tax is included in the price of goods or as a tariff on services; thus, it is, in effect, shifted to the consumers, mainly workers. In prerevolutionary Russia, excise taxes, along with the spirits monopoly, produced 47.5 percent of the total income of the budget in 1904. Excise taxes are an important source of revenue for the state budgets of contemporary capitalist countries. In England and the USA, for example, from 1929 to 1958 excise taxes yielded between 14 and 30 percent of all tax receipts. In the USA, the total excise collections grew from $.5 to $12.4 billion per year over the period 1928–59. The excise tax on many goods is as high as half or even two-thirds of their price.

In the USSR the excise system was abolished by the tax reform of 1930; in other socialist countries it was abolished by the tax reforms of 1948–49.

References in periodicals archive ?
The Commission proposes retaining the current minimum levels fixed by the Energy Taxation Directive (Directive 2003/96/EC) as the bottom of the range until 2012 in order not to impose any increase in today's commercial diesel excise duties.
The proposal for a Council Directive amending Directive 92/81/EEC and Directive 92/82/EEC to introduce special tax arrangements for diesel fuel used for commercial purposes and to align the excise duties on petrol and diesel fuels was examined by Parliament under the consultation procedure, which means the Council of Ministers is not bound by its Opinion.
Added to this, unpredictable developments like increases in excise duties and other governmental measures, and the weather, prevent a meaningful prediction of the level of profit growth for 1998 at this moment in time.
In an Opinion adopted on December 12, the European Economic and Social Committee has proposed channelling additional revenue generated by the harmonisation of excise duties on commercial diesel fuel towards funding priority European transport infrastructure.
To encourage domestic production of mobile handsets and reduce the dependence on imports, the Finance Minister has proposed to restructure the excise duties for all categories of mobile handsets.
It also wants government to cut excise duties on cars to make them more affordable to consumers.
Bulgaria and all other EU states should be completely free to decide their excise duties for tobacco, alcohol and energy, according to the Bulgarian rightist SDS party.
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.
THE EUROPEAN Commission is asking drinks companies for comments on how European Union (EU) legislation on excise duties can be reformed.
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.
In the Budget, excise duties for cars exceeding four metres in length but engine capacity less than 1,200 cc for petrol and 1,500 cc for diesel have been increased to 24 per cent, from 22 per cent with a fixed duty of Rs 15,000.
Bulgaria's finance minister has made it clear that a decrease in cigarette excise duties by the end of the year is out of the question.