Excise Tax

Question 1

Excise Tax

Answer 1

EXCISE TAX is:

• A tax on consumption.
• A tax production or importation of certain goods.
• An indirect tax.
• An additional business tax
• Specific and ad valorem
• Has a regulatory overture
  a. Environmental tax
  b. Sumptuary tax
  c. Sin tax

Question 2

Types of Excise Tax

Answer 2

1. Specific Excise Tax
2. Ad valorem Excise Tax