EXCISABLE Meaning and
Definition
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Excisable is an adjective that refers to an item or commodity that is subject to excise tax. Excise tax is a type of tax that is levied on the production, sale, or consumption of specific goods or services. These taxes can be imposed by the government to discourage the consumption of certain products, control the availability of certain goods, or generate revenue for public purposes.
Excisable items are usually certain types of luxury goods, sin products (such as alcohol and tobacco), petroleum products, or other items deemed non-essential or potentially harmful to individuals or society as a whole. The excise tax is often applied at the point of sale or production, and the amount is typically determined based on a fixed rate or a percentage of the value of the item.
The term "excisable" indicates that the item in question is eligible for the imposition of excise tax. It denotes that the commodity is legally liable to be taxed, and the tax must be paid by the producer, seller, or consumer, depending on the specific regulations and policies of the respective jurisdiction. Excisable goods are typically identified and classified under specific codes or categories to facilitate the collection of taxes, record-keeping, and enforcement of regulatory measures.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for EXCISABLE
- wxcisable
- sxcisable
- dxcisable
- rxcisable
- 4xcisable
- 3xcisable
- ezcisable
- eccisable
- edcisable
- escisable
- exxisable
- exvisable
- exfisable
- exdisable
- excksable
- excosable
- exc9sable
- exciaable
- excizable
- Existable
Etymology of EXCISABLE
The word "excisable" comes from the verb "excise", which originated in the early 17th century. "Excise" derives from the Middle Dutch word "excisen" and the Latin word "excisus", both of which mean "cut out" or "cut off". In the context of taxation, "excise" refers to a tax levied on the production, sale, or consumption of certain goods or services. Thus, "excisable" describes something that is subject to excise duty or can be cut out or removed.
Similar spelling word for EXCISABLE
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