Definition: The concept of Excise Tax calculation and payment in IT refers to the use of software or digital tools to calculate, track, and pay excise taxes. These systems are designed to automate and streamline the process, reducing errors and ensuring compliance with tax laws. Source: Investopedia Source reference: https://www.investopedia.com/terms/e/excisetax.asp Additional information: Excise taxes are indirect taxes that are levied on the sale of certain goods and services. They are usually included in the price paid by the consumer and passed on to the government by the producer or retailer. The IT concept of excise tax calculation and payment involves using software to automate these processes. This can include calculating the amount of tax due based on the type and quantity of goods sold, tracking tax payments to ensure they are made on time, and generating reports for tax compliance purposes. The software may also be able to handle different tax rates for different products and jurisdictions, and to adjust calculations based on changes in tax laws. Example: Examples of application include a retail business using tax software to calculate the excise tax on sales of alcohol, tobacco, or fuel. The software would determine the amount of tax based on the quantity sold and the current tax rate, add it to the sales price, and track the total amount of tax collected. The business could then use the software to make tax payments to the government and generate reports for tax compliance purposes. Another example could be a software company developing a digital solution for businesses to manage their excise tax obligations, including calculation, payment, and reporting. LOST view: OV-Digital Public Services Catalogue Identifier: http://data.europa.eu/dr8/egovera/ExciseTaxCalculationAndPaymentBusinessService EIRA traceability: eira:DigitalPublicBusinessService ABB name: egovera:ExciseTaxCalculationAndPaymentBusinessService EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/ExciseTaxCalculationAndPaymentBusinessService dct:title: Excise Tax calculation and payment Digital Public Service