699 B
699 B
Excise Duties
Definition
Taxes imposed on goods produced domestically for home consumption, typically on a few articles of general use, which are levied by government administration and provide a significant portion of public revenue.
Source Chapter
Book V, Chapter 2
Context
Smith discusses excise duties as a major source of revenue, examining their advantages in terms of certainty and convenience of collection, while also noting their tendency to discourage certain branches of industry and encourage smuggling.
Economic Domain
General Theory