What is excise duty?
Excise duty is a special consumption tax levied on specific goods such as fuels, tobacco products, and alcoholic beverages. It aims to generate public revenue and influence consumption patterns for health or environmental reasons.
Which products are subject to it?
- Fuels (gasoline, diesel)
- Alcoholic beverages (beer, wine, spirits)
- Tobacco products
- Certain energy sources (coal, gas)
How does it work?
Excise duty is paid by producers, importers, or first distributors. The products are often stored in licensed excise warehouses, and subject to strict administrative controls.
Official definition
Excise duty is a tax applied to the production, import, or release for consumption of specific goods under regulatory oversight.
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