Excise Duty
Excise Duty is a type of tax imposed by governments on specific goods and services, typically those considered non-essential or harmful. Common items subject to this tax include alcohol, tobacco, and fuel. The purpose of excise duty is to generate revenue for the government and to discourage the consumption of certain products.
This tax is usually included in the price of the product, meaning consumers pay it indirectly when they purchase these goods. Excise duties can vary significantly between countries and can be adjusted to influence market behavior, such as reducing pollution or promoting public health.