Excise

Article summary

), its target (malt and hops exclusively), and its source (inland revenue). An excise, or excise tax, is any duty on a category of goods that is normally levied by a government at the moment of manufacture for domestic consumption. This makes excise different from a sales tax or value-added tax (which are levied at a point of sale) or from customs duties (which are levied on goods when they cross a designated border). An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try to recover their loss by raising the price paid by the eventual buyer of the goods. Excise is thus a tax that relates to a quantity, not a value, as opposed to the value-added tax which concerns the value of a good or service. Excises are typically imposed in addition to an indirect tax such as a sales tax or value-added tax (VAT). Typically, an excise is distinguished from a sales tax or VAT in three ways: # 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 value-added tax is an ad valorem tax and proportional to the price of the goods, # an excise typically applies to a narrow range of products, and # an excise is typically heavier, accounting for a higher fraction of the retail price of the targeted products.…

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