Main Page
Taxes on Companies :
Excise Tax :"Excise," in England and in the Colonies, for at least one hundred and forty years before it was used in the Constitution, meant an inland levy on selected tangible property, or upon the owners of it, because of the activity in which the property was moving, as in the manufacture, in intermediate sale, or in the ultimate sale commonly amounting to consumption. In the U.S. constitutional law sense, an excise is essentially an event tax
Countervailing duty : Countervailing duties are a means to restrict international trade in cases where imports are subsidized by a foreign country and hurt domestic producers.
According to WTO rules, a country can launch its own investigation and decide to charge extra duties. Since countries can rule domestically whether domestic industries are in danger and whether foreign countries subsidize the products, the institutional process surrounding the investigation and determinations has significant impacts beyond the countervailing duties.
Turnover Tax : A turnover tax is similar to a sales tax or a VAT, with the difference that it taxes intermediate and possibly capital goods. It is an indirect tax, typically on an ad valorem basis,
applicable to a production process or stage. For example, when manufacturing activity is completed, a tax may be charged on some companies. Sales tax occurs when merchandise has been sold.
A different meaning of Turnover Tax: The turnover tax is a sales tax used in planned economies to fund the jurisdiction and control demand for some product. The central authority in a command economy leaves the supplier a profit deemed to be fair, and takes the rest as a turnover task (i.e., money turned over to the government.) If the cost of production exceeds the market price, a negative turnover tax (a subsidy) may be used.
