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Excise |
Also found in: Dictionary/thesaurus, Medical, Wikipedia, Hutchinson | 0.20 sec. |
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A tax imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege. A tax on the manufacture, sale, or use of goods or on the carrying on of an occupation or activity, or a tax on the transfer of property. In current usage the term has been extended to include various license fees and practically every internal revenue tax except the Income Tax (e.g., federal alcohol and tobacco excise taxes). excise n. a tax upon manufacture, sale, or for a business license or charter, as distinguished from a tax on real property, income or estates. Sometimes it is redundantly called an excise tax. (See: tax) |
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? References in periodicals archive |
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He also said that the Bombay Metal Exchange had asked the Indian government to cut excise duties and CVD from 16 percent to 8 percent and also to reduce the import duty on metals from 7. Under this new scheme of devolution 26 percent of the gross proceeds of Union taxes and duties are to be transferred to the states in lieu of their existing share in income tax, excise duties and grants in lieu of tax on railway passenger fares. Goods stored "in bond" in the Netherlands are not liable to any import duties, excise duties, or VAT. |
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