excise

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

Excise

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)

excise

noun assessment, capitation, charge, custom, demand, duty, exaction, exactment, fee, imposition, levy, liability, obligation, tariff, tax, taxation, toll
Associated concepts: direct tax, excise tax, fee, gift tax, license tax, privilege tax

excise

(Cut away), verb abscind, clip, cut, cut out, deduct, delete, detruncate, diminish, disjoin, dissever, eradicate, expunge, expurgate, extract, pare, pluck out, remove, separate, sever, subduct, subtract, take away, take out, tear out, thin, truncate, weed, withdraw

excise

(Levy a tax), verb appraise, assess, charge, charge duty, claim, collect, compel payment, demand, demand payment, demand toll, enforce payment, exact, force payment, impose a duty on, impost, lay a duty on, lay claim to, levy, levy an excise on, oblige, raise, require a tax, requisition, take, tax
Associated concepts: direct tax, franchise tax, gift tax, indiiect tax, privilege tax, succession tax
See also: assess, bowdlerize, cancel, delete, diminish, duty, expunge, imposition, levy, redact, reject, tariff, tax, toll

excise

originally taxes charged on the retail sale within the UK of commodities such as beer, wines and spirits. Nowadays, however, licences (e.g. permitting the use of a gun or dealing in game) are classified as excise. One of the most commonly prosecuted excise offences is contravention of the legislation which requires motorists to display a vehicle excise licence, known colloquially as a tax disc.
References in periodicals archive ?
In February this year, excise duties with regard to several categories of automobile vehicles were reduced for a brief period.
Those who lobbied to keep gambling free of excise duties lied when they said it would bring profit to the Budget, but the truth is that this has not happened.
This paper warned of course that member states could still levy higher rates than the minimum and the hike "would pave the way for further increases of excise duties on cigarettes [including] those member states which already have a high level of taxation.
The 2 to 4 percent cut in excise duties can help the companies in dealing with recession.
GORDON Brown has been urged by retailers to reduce excise duties after judges in Luxembourg blocked online shoppers from buying cut-price cigarettes and alcohol anywhere in Europe.
The judges made clear alcohol and cigarettes being brought home for consumption from other EU countries can only be exempt from domestic excise duties if those goods are intended for the personal use of the private individuals who transported the goods themselves.
European finance ministers failed on November 8 to agree an increase in alcohol excise duties that would bring the tax in line with inflation.
75bn in excise duties last year, an influential Commons committee said today.
The government promised to use excise duties it imposed on video compact disc, recoded tapes digital video disc and laser disc to eradicate piracy.
However, it has also imposed excise duties on all cars to offset reduced import revenue.
A Private Members' Bill that would require retailers to include a breakdown of VAT and excise duties on till receipts is due to get its second reading in the Commons on July 19.