Excise Taxes
Excise taxes are specific taxes imposed on certain goods and services, often included in the price of the product. These taxes are typically levied on items like alcohol, tobacco, and fuel, and are designed to discourage consumption of these products or to generate revenue for the government.
Unlike sales taxes, which apply to a broad range of goods, excise taxes target specific items. The revenue generated from excise taxes can be used for various purposes, such as funding public health initiatives or maintaining infrastructure related to the taxed goods, like roads for fuel.