FOLIO Ontology

Excise Tax Payment refers to taxes levied as product-specific unit taxes on a predefined, limited range of goods. Excises are usually imposed at differentiated rates on nonessential or luxury goods, such as alcoholic beverages, tobacco, and energy. They may be assessed at any stage of production or distribution and are typically calculated based on the value, weight, strength, or quantity of the product. These taxes can also apply to individual products like sugar, matches, and chocolates, as well as utilities such as water, electricity, gas, and energy.