Tag excise and tar­iff

Here are some key terms related to excise and tariff:

Excise:

• An excise is a type of tax or duty imposed by a government on the production, sale, or distribution of a specific good or service.
• Excises are often used to regulate or discourage certain activities, such as the production or consumption of certain goods or services.
• Examples of excises include:
  • Cigarette taxes
  • Gasoline taxes
  • Alcoholic beverage taxes
  • Luxury goods taxes

Tariff:

• A tariff is a tax or duty imposed by a government on imported goods or services.
• Tariffs are often used to protect domestic industries or to raise revenue for the government.
• Tariffs can be imposed on a specific good or group of goods, and can be set at a fixed rate or as a percentage of the good's value.
• Examples of tariffs include:
  • Import duties on clothing or textiles
  • Tariffs on steel or aluminum
  • Tariffs on agricultural products

Key differences:

• Excises are typically imposed on domestic goods or services, while tariffs are imposed on imported goods or services.
• Excises are often used to regulate or discourage certain activities, while tariffs are often used to protect domestic industries or raise revenue.
• Excises are usually collected by the government at the point of sale, while tariffs are collected by customs authorities at the border.

Examples of excise and tariff combinations:

• A country may impose an excise tax on domestic beer production, and also impose a tariff on imported beer to protect domestic breweries.
• A country may impose a tariff on imported cars to protect domestic automakers, and also impose an excise tax on domestic car sales to raise revenue.

International trade implications:

• Excises and tariffs can have significant implications for international trade, as they can affect the prices and availability of goods and services.
• Countries may negotiate trade agreements to reduce or eliminate excises and tariffs, in order to increase trade and economic cooperation.
• Excises and tariffs can also be used as a tool of economic policy, such as to reduce consumption of certain goods or to promote domestic industries.