What is excise tax based on

Fermented Liquors Section 2. Tobacco Products Sections a. Inspection Fee Section 3. Petroleum Products Section 4. Miscellaneous Articles Section a. On Domestic or Local Articles Manufacturer Producer Owner or person having possession of articles removed from the place of production without the payment of the tax b.

In the case of mineral concentrates not traded in commodity exchanges in the Philippines or abroad, such as copper concentrate, the actual market value shall be the world price quotations of the refined mineral products content thereof prevailing in the said commodity exchanges, after deducting the smelting, refining and other charges incurred in the process of converting the mineral concentrates into refined metal traded in those commodity exchanges.

On minerals and mineral products sold or consigned abroad, the actual cost of ocean freight and insurance shall be deducted from the tax base. Using purely caloric sweeteners, and purely non-caloric sweeteners, or a mix of caloric and non-caloric sweeteners. Using purely high fructose corn syrup or in combination with any caloric or non-caloric sweetener. Informs all taxpayers and others concerned of the new and upgraded internal revenue stamp design for cigarette products.

Amends Section 9 of RR No. Clarifies the implementation of the increase in Excise Tax rates on locally-manufactured cigarettes effective January 1, in relation to the new Internal Revenue Stamps. Further amends the provisions of RR No. Amends the provisions of RR No. Jacinto-Henares Vs. Representative Carmelo F.

Amending Section 2 of Revenue Regulations No. New vehicles are required to have a window sticker and the window sticker must be must be presented on first time registrations.

For more information see 36 M. Where do I pay the excise tax? How much is the excise tax? The amount of tax is determined by two things: The age of the vehicle Manufacturer's suggested retail price "MSRP" How is the excise tax calculated? YEAR 1. Where does the excise tax go? The sales tax rate is determined by state and local governments. The rate might change depending on the good or service. There are three main differences between sales tax and excise tax. The cost of excise taxes is usually factored into the cost of the product.

Of course, there are always exceptions. State excise taxes are typically filed monthly. The due dates vary by jurisdiction and the type of return being filed. Completing that process repeatedly for thousands of transactions can be time-consuming and error prone. Not to mention the complex rules that are applied to determine if a product is taxable in a jurisdiction and determine the correct product category. Excise tax determination software helps ease the process.

Filing excise taxes is complicated. Here are a couple questions to keep in mind when filing:. Gas tax revenue is often used to fund infrastructure maintenance.

And aviation fuel taxes fund air traffic control operations. Some revenues go straight to the general fund in that jurisdiction and can be used for a variety of programs. Other excise tax revenue can be used for future funding of large capital projects. Jump to a topic by clicking below. What is an Excise Tax? Sales Tax vs. How Often Do You File?