excise


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Related to excise: Excise duty

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 ?
An entirely new registration procedure was put in place as of 18th August 2019, and the FTA called on all concerned businesses including producers, importers, and stockpilers of Excise Goods to take the initiative and register said goods in the new system.
Pursuant to these amendments, effective 1 January 2020, a 100% excise tax on electronic smoking appliances and liquids used in these devices, and 50% excise tax on beverages and sugary drinks has been set.
In the first six months of this year, excise on oil products provided 50.8 percent of total excise revenue, excise tax on tobacco provided 20.6 percent and excise tax on alcohol (including beer) 24.5 percent of total excise revenue.
Additionally, The Authority pointed to the new manuals and guides it launched to raise awareness among taxpayers and offer them instructions on how to register excise goods in the new system, and comply with the new reporting requirements and forms in the excise tax system.
Products that are more than 50 ml will be slapped with P50 excise tax plus P10 per additional 10 ml.
With the cooperation of the Pakistan Council of Scientific and Industrial Research (PCSIR), the department of excise will approve the material, colour and other standards for the manufacturing process.
On the other hand, a large number of people are approaching the excise offices to pay their taxes.
"We have digitalized vehicle registration and documentation which has decrease corruption in Excise Department but we have been pursing strict policy against corrupt practices in provincial Excise and Taxation Department." The Advisor said added action against corrupt elements would be publicized through media.
"Excise tax is a form of indirect tax levied on specific goods that are deemed harmful to human health or the environment.
Tobacco products labeled with the current excise label may be marketed until exhausted but not later than 20 May 2020.
This was informed during a meeting held here at Circuit House under the chairmanship of Punjab Minister for Excise and Taxation Hafiz Mumtaz Ahmad.
Tribune News Network Doha The General Tax Authority (GTA) has set January 31, 2019, as the last day for filing Excise Tax returns, the authority announced in a press statement on Saturday.