With a general reduction in import tariffs, governments are placing increasing importance on excise taxation as a means of generating a reliable stream of sustainable income.Further, excise is playing a greater role in broader government policies as a form of taxation which can be used to influence consumption of certain products, generally on health or environmental protection grounds. Thus, the effective collection of excise duties is becoming a high national priority in many countries.This paper examines 'key controls' in ensuring that excise revenues are properly managed. These controls centre on the requirements to license all excisable dealings and for licensees to properly record and report against relevant activities relating to these dealings. The relationship between the excise system, the associated risks and these key controls in a successful excise administration is examined.
|Number of pages||20|
|Journal||World Customs Journal|
|Publication status||Published - 2008|