Excise Tax (Noun)
Meaning
A tax that is measured by the amount of business done (not on property or income from real estate).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government imposed an excise tax on luxury goods to increase revenue and discourage excessive spending.
- The excise tax on fuel was increased to finance infrastructure development projects across the country.
- Excise tax rates on tobacco products have been raised significantly to curb smoking and generate additional tax revenue.
- A portion of the excise tax collected from airline tickets is allocated to support airport maintenance and upgrade projects.
- The excise tax on telecommunications services has been criticized for disproportionately affecting low-income households.