Excise Tax on Specific Goods

Excise tax is a specific tax applied to certain goods, often to raise revenue or discourage consumption. Common products subject to excise tax include tobacco, alcohol, gasoline, and sugary beverages. This tax is usually included in the price of the product, meaning consumers pay it indirectly when they purchase the item. The goal is often to regulate behaviors that may be harmful to public health or the environment while generating funds for government services.