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excise

noun

/ˈɛksʌɪz/

IPA:

Dictionary definition of excise

A tax imposed on certain goods or products, typically those that are considered harmful or luxury items.
"Excise on cigarettes is a major source of revenue for many countries."

Detailed meaning of excise

The tax is typically imposed at the production or distribution stage of the product and is usually a specific amount per unit, such as per liter, per pack, or per pound. Excise taxes are often used to discourage the consumption of certain goods, such as tobacco, alcohol, and gasoline, or to raise revenue for the government. The excise tax is often imposed by federal or state government, and it's collected by the government agencies or by the sellers or manufacturers of the products. Excise taxes are different from sales taxes, which are imposed on the final retail sale of a product. Excise taxes are also different from import taxes, which are imposed on goods imported into a country. Excise taxes can be seen as a way of regulating the production, distribution and consumption of certain goods, as well as a way of raising revenue for the government.

Example sentences containing excise

1. The government increased the excise on tobacco products.
2. He was surprised by the high excise on imported wines.
3. The excise on luxury cars made them less affordable.
4. The excise on alcohol is a significant source of revenue.
5. The excise on sugary drinks aims to reduce consumption.
6. The excise on gasoline contributes to road maintenance.

History and etymology of excise

The noun 'excise' has its etymological origins in Middle Dutch and Middle French. It is derived from the Middle Dutch word 'excys,' which means 'a tax' or 'a duty.' This term was adopted into Middle French as 'accise,' retaining its meaning of a tax or duty on certain goods. Over time, 'accise' made its way into English as 'excise,' and it came to represent a specific type of tax imposed on particular goods or products, often those that were considered harmful or luxury items. The etymology of 'excise' effectively conveys its historical association with taxation and the levying of duties, emphasizing its role as a term used to describe a tax on specific commodities for various economic and regulatory purposes.

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Further usage examples of excise

1. The excise on firearms is meant to deter illegal sales.
2. The excise on imported electronics raised their prices.
3. Excise taxes on jewelry can be quite substantial.
4. He questioned the fairness of the excise on luxury goods.
5. The excise on luxury yacht purchases is substantial.
6. The government considered raising the excise on alcohol.
7. Excise taxes on cigarettes are designed to discourage smoking.
8. The excise on cosmetics is relatively low compared to other items.
9. The excise on fuel can vary by region and type.
10. The excise on air travel tickets helps fund airports.
11. The excise on firearms is intended to regulate their sales.
12. The excise on sugary snacks is part of a health initiative.
13. The excise on imported electronics affects consumers.
14. Excise taxes can influence consumer behavior and choices.
15. The excise on alcohol has been increased again.
16. The government collects excise on fuel sales.
17. The excise on luxury goods is often higher than on regular items.
18. The excise on imports has been reduced to boost trade.
19. Excise is a form of indirect taxation.
20. The excise on sugary drinks has been introduced to combat obesity.
21. The excise on firearms is designed to discourage ownership.
22. Excise on air travel is included in the cost of your ticket.
23. The excise on property sales is called stamp duty.
24. Excise on certain products is waived for charitable organizations.
25. The excise on gambling is used to fund social programs.
26. The government imposes an excise tax on certain goods, such as tobacco and alcohol.