Excise Duties

Excise duties are taxes imposed by governments on specific goods and services, typically produced or sold within the country. These can include products like alcohol, tobacco, and fuel. Unlike sales tax, which is added to the final price for consumers, excise duties are often included in the manufacturer’s cost, affecting pricing and sales strategies. For corporations, understanding excise duties is crucial for compliance and financial planning, as these taxes can significantly impact profit margins and overall business operations.