An excise or excise tax (sometimes called a special excise duty) is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses for specific activities. Excises are distinguished from customs duties, which are taxes on importation. Excises are inland taxes, whereas customs duties are border taxes.
An excise is considered an indirect tax, meaning that the producer or seller who pays the tax to the government is expected to try to recover or shift the tax by raising the price paid by the buyer. Excises are typically imposed in addition to another indirect tax such as a sales tax or value added tax (VAT). In common terminology (but not necessarily in law), an excise is distinguished from a sales tax or VAT in three ways:
an excise typically applies to a narrower range of products;
an excise is typically heavier, accounting for a higher fraction of the retail price of the targeted products; and
an excise is typically a per unit tax, costing a specific amount for a volume or unit of the item purchased, whereas a sales tax or VAT is an ad valorem tax and proportional to the price of the good.
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The KP adviser emphasized provincial excise duty on tobacco was ring-fenced to support health service delivery in the province.He asked the manufacturers to withdraw their legal challenges and engage ...
... excise tax, estate tax, and other fees ... Also, it is all governmental impositions on the person, property, privileges, occupations and enjoyment of the people that includes duties, imports and excises.
— Reuters ... Macroeconomic stabilisation was a key achievement in 2024 ... The IMF (2021) notes that Pakistan's indirect taxes, such as sales tax and excise duties, contribute to the cost-of-living increases, disproportionately affecting the poor ... .
These changes included grant of wholesale license to private entities instead of state owned wholesale entity, upfront charging of excise duty in the license fees in place of excise duty to be charged ...
The task force of the prohibition and excise department seized 49 bottles of non-duty paid liquor smuggled illegally from Goa into Hyderabad... On December 15, 2024, the excise department along with ...
These policies have been evaluated together with the tax types namely, Corporate Income Tax, Value Added Tax (consumption tax), Excise duty, PAYE, CST, Duties (import duties), and their incentives and reliefs.
Thukten Zangpo ... The collection from the goods and services which includes sales tax, excise duty, green tax is expected to contribute Nu 10.64 billion to the tax revenue, Nu 7.5 billion from royalty, and Nu 752.81 million from customs duty ... .
NEW DELHI... Consumption, which constitutes the lion’s share of GDP with a weight of over 56%, could be given an impetus through a cut in excise duty on fuel in addition to reducing the personal income tax rates for incomes up to ₹20 lakh per annum ... ....
— Facebook@ftopakistan. PESHAWAR ...Unveiling the performance report and achievements of the office for the year 2024, the adviser said that most of the complaints pertained to income tax, sales tax, federal excise duties, and customs duties ... .
The Punjab excise and taxation department promoted an official just two days after issuing a notice accusing him of “negligence in duty” and “causing loss to the state exchequer.” ... in duty.
On January 1, the excise tax increase brought an almost 8 forint (0.019 euros) increase in the ... Starting January 1, 2025, an inflation-linked excise duty increase will take effect.Continue reading.
The Large Taxpayer Office (LTO) Karachi tops in collecting taxes -- income tax, sales tax, Customs duty and federal excise duty -- as its contribution fetched 30.7 percent of the revenue.
ISLAMABAD ... In another letter, the commerce ministry has requested tariff-related proposals for the upcoming budget ... The FBR has outlined specific policy areas — income tax, sales tax, and federal excise duty — for which it seeks stakeholder proposals ... .
What the bond market turmoil means for your mortgage, pension and savings. Read more ... This could include capital gains tax, alcohol and tobacco duties, air passenger duty, vehicle excise duty and property taxes.Rate cuts ... So far, so good,” she said ... .
