Sentences with phrase «levy excise taxes»

In some cases, governments levy excise taxes on goods that have a high social cost, such as cigarettes and alcohol, and for this reason, these taxes are sometimes called sin taxes.

Not exact matches

(For what it's worth, Colorado also has a 15 % state excise tax and other states levy higher sales taxes, as well.)

Colorado currently charges a 15 percent excise tax rate, in addition to the 2.9 percent sales tax levied on all sales in the state.

In the United States, most consumption taxes are levied by states and local governments (as retail sales taxes), although the federal government does levy some selective consumption taxes, called «excise taxes,» on items such as alcohol, tobacco products, and gasoline.

Excise tax: A tax on specific goods and services, levied at federal, state, and local levels.

This is mainly because Federal and State excise taxes, which are levied per litre of petrol sold, account for a substantial proportion of the retail petrol price.

This means that American wines coming to China after this date are subject to a 29 % import tariff, bringing the total amount of taxes levied on American wines up from 48.2 % to 67.7 % * including VAT, excise tax and import tariff.

With the new increases, taxes on petrol per litre are Excise Duty, 2.78 pesewas per litre; Energy Debt Recovery Levy, 41 pesewas per litre; Road Fund Levy, 40 pesewas per litre; Energy Fund Levy, 1 pesewas per litre; Price Stabilisation and Recovery Levy, 12 pesewas per litre.

With a projected revenue of N3.86 trillion in the face of dwindling crude oil receipts, government estimates that oil revenues contribute N820 billion of the total revenue; non-oil revenues, comprising Company Income Tax, CIT, Value Added Tax, VAT, Customs and Excise duties, and Federation Account levies, are expected to contribute N1.45 trillion; while independent revenues are expected to contribute N1.51 trillion through the enforcement of the Fiscal Responsibility Act, 2007 and public expenditure reforms in all MDAs.

The Silk Commission said it shouldn't devolve fuel duty, alcohol and excise duty, vehicle excise duty, capital gains tax, insurance premium, stamp duty on shares, inheritance tax, betting and gaming, VAT, climate change levy and National Insurance Contributions.

However Central Excise Duty, CST / VAT, other Central / State local taxes and levies and transportation charges payable will be as applicable on the date of delivery and shall be borne by the Customer.

Tariff may also be referred to in terms of a tax, duty, excise, levy or toll.

That doesn't consider the 7.5 percent federal excise tax United levies on the amount of award miles offered.

«no city, town, county, township or other subdivision or municipal corporation of the state may levy or collect any excise tax upon or measured by the sale, receipt, distribution, or use of fuel.»

Certain excise taxes and special levies are imposed at both the federal and provincial levels of government across Canada.

If Customs & Excise take the view that a declaration was incorrect, additional duties and taxes may be retrospectively levied, often confronting businesses or even entire industry sectors with very substantial costs, which are usually neither budgeted nor recoverable.