excise


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Related to excise: Excise duty

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 state human rights commission has also intervened in the matter, asking for a report from deputy excise commissioners and the additional excise commissioner for enforcement.
In the case of tobacco excise taxes, Dulay said January collections amounted to P12.
However, not all automobiles are subject to excise tax.
The Excise and Taxation Department had also sent detailed feasibility reports to the government for the purpose after the provincial government had allocated special funds for purchasing the official vehicles and furniture as well.
In 2016, the government issued 291,605,700 excise stamps for 4.
The DIG further complained that some excise officers, clad in K-P police-like uniforms, had been introducing themselves as officers of the K-P police to the public.
Earlier, Azerbaijan's Finance Minister Samir Sharifov stated that the country's government plans to increase excise rates for the import of alcoholic beverages and tobacco products by two times in 2018.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Meanwhile, the Action for Economic Reforms (AER) called out Congress' decision to forego the lifting of the excise tax on locally produced coal.
A stockpiler would not be liable for the tax where he obtains excise goods before the date the law comes into force if these are ready for release for consumption in the state where the tax has not been paid and not waived or deferred, if such excise goods are not excess excise goods.
Authorities thrash out details for applying excise tax "Without this transaction ID, the customs official will not clear the shipment.
He said under another initiative to be implemented soon, property holders would get tax forms from a machine to be installed at Excise offices.
The Excise department of the Delhi government termed it an annual phenomenon but sources said the liquor shortage was due strict security checks on Delhi borders.