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Excise has existed in English since the late 15th century and was borrowed from Middle Dutch echijns and excijs, meaning 'excise on wine or beer', which was apparently altered from earlier (13th century) assise, assijs, which meant simply a tax on consumption and is related to Medieval Latin accisia, assisia, assisa 'tax, excise duty'. The ...
For similar items, excise duties are the same for imported and domestically produced goods; if the tax differs, there is an explicit or implicit customs duty or tariff. An unusual example of a state "excise" tax is found in the State of Hawaii .
The level of customs duties is a direct indicator of the openness of an economy to world trade. However, there may also be import barriers that are not based on the levy of duties. The following table shows the tariff rate, in percentages, according to United Nations Conference on Trade and Development (UNCTAD) , [ 1 ] World Trade Organization ...
Excise taxes can be either a flat fee or a percentage of the cost of the product or service. The amount of excise tax depends on factors like the product and state.
Excise; Excise duty is an indirect tax on the activity of manufacturing , though , typically it is collected at the time of removal of goods .
Customs and Excise refers to customs duty and excise duty. In certain countries, the national tax authorities that are responsible for collecting those duties are named Customs and Excise, including: HM Customs and Excise, a department of the British government until 2005
The design of such excise tax determines the consequences. Two main types of excise taxes are specific tax (tax imposed as fixed amount of money per unit) and ad valorem tax (tax imposed as the percentage of the price of a good). Specific and ad valorem taxes have identical consequences in competitive markets apart from differences in ...
An excise duty is an indirect tax imposed upon goods during the process of their manufacture, production or distribution, and is usually proportionate to their quantity or value. Excise duties were first introduced into England in the year 1643, as part of a scheme of revenue and taxation devised by parliamentarian John Pym and approved by the ...