excise

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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 ?
The excise tax slapped on sugar-sweetened beverages was introduced in the TRAIN law.
It was expected that the change in excise tax rates will lead to the increase in prices for cigarettes with ashareof 1.
On track: The registration process for excise tax is well on track and the Federal Tax Authority now have an extensive database of excise taxable persons.
Violations of the Excise Tax legislation will be subject to penalties
The introduction of VAT and Excise Tax constitute an important policy reform aiming to help GCC Governments achieve medium to long term social and economic policy goals, and reduce reliance on hydrocarbon revenues," Jeanine Daou, Middle East Indirect Taxes Partner, said.
The formal announcement of the GCC common VAT and Excise Tax treaties is expected now in the last quarter of this year and this will pave the way for the adoption of the new tax systems by GCC Member States by the expected dates.
Q: Why should companies be thinking about issues related to the medical device excise tax during the moratorium?
The insurer cannot deduct the excise tax payment from its taxable income.
Last year, Kyrgyzstan has adopted several legal acts aimed at increasing the excise tax, the MP reminded on April 24 at a plenary session.
Cigarette excise tax rates are set by legislation; excise taxes usually are collected before the point of sale from manufacturers, distributors, or wholesalers and often are denoted by a tax stamp.
House of Representatives on March 21, 2010, and enacted into law with President Obama's signature on March 23, 2010, One of the myriad provisions contained in the ACA is a new 10% excise tax on indoor tanning services, effective for services performed after June 30, 2010.
We have performed the procedures, which we agreed to perform and with which the Department of Transportation's Inspector General concurred, solely to assist the Inspector General's office in ascertaining whether the net excise tax revenue distributed to the Airport and Airway Trust Fund (AATF) for the fiscal year ended September 30, 2010, is supported by the underlying records.