Excise Taxes Essentials: A Comprehensive Overview

Specific Taxes, AdValorem Taxes, Mixed Excise Tax systems, Tax Yields, Tax Incidences, Fiscal Multiplier, MET, MRP, MAP

What you'll learn

Understand the specificities and dynamics of various excise tax systems and their mechanisms in order to minimize the tax exposure for your organization.

Develop the appropriate pricing strategies to maximize the pricing productivity of your products and the profits for your organization.

Understand the dynamics in a market where products are impacted by excise taxes to take informed pricing decisions and outperform your competition.

Improve your accuracy in planning and forecasting your company's excise tax burden to make appropriate budgeting decisions.

Ensure compliance with tax laws and regulations and understand government needs to advocate for better excise tax structures.

Requirements

No pre-requirements are needed to follow this course. You will learn everything you need to know to improve your tax and excise tax acumen. We will always cover the basics before moving to more advanced topics.

Description

In this comprehensive online course on excise taxes, you'll learn the ins and outs of one of the most fascinating and controversial types of taxation out there. Often referred to as "sin taxes," excise taxes are charged on goods and services that are considered to be harmful or unhealthy. But there's much more to excise taxes than just that!Throughout the course, we'll explore the different types of excise taxes, from specific taxes to ad valorem taxes and mixed systems. You'll gain a deep understanding of why governments choose to implement excise taxes and how they impact the economy as a whole.But that's not all! We'll also dive into the exciting world of pricing strategies, exploring how companies navigate the complexities of excise taxes to maximize profits and minimize risk. You'll learn about the concepts of Fiscal Multiplier, Minimum Excise Tax (MET), and Minimum Retail Prices (MRP), and how they factor into the dynamic world of excise taxation.This course is also applicable to other taxes, such as the VAT or GST, so you'll walk away with a broad understanding of the tax landscape. Whether you're an aspiring tax professional or simply interested in learning more about this fascinating topic, this course is the perfect place to start.

Overview

Section 1: Introduction to the course

Lecture 1 Introduction

Section 2: Structure of the course

Lecture 2 Structure of the Course

Section 3: What are Excise Taxes and why Governments implement them?

Lecture 3 What are Excise Taxes and why do Governments implement them?

Section 4: Key concepts and terminology used in the course

Lecture 4 Key concepts and terminology used in the course

Section 5: Specific (Excise) Tax Structures

Lecture 5 Introduction to the Specific Tax module

Lecture 6 What is a specific (excise) tax?

Lecture 7 Changes in prices with a specific tax system

Lecture 8 Changes in taxes with a specific tax system

Lecture 9 Strategic pricing decision with a specific tax system (example)

Lecture 10 Variants of specific tax systems (single tier, multi-tier, …)

Lecture 11 Always compare what is comparable!

Lecture 12 Recap of the specific excise tax structures

Section 6: AdValorem (Excise) Tax Structures

Lecture 13 Introduction to the AdValorem Tax module

Lecture 14 What is an AdVAlorem (Excise) Tax?

Lecture 15 Changes in prices with an AdValorem tax system

Lecture 16 Variants of AdValorem tax systems (Single tier, multi-tiers)

Lecture 17 The Fiscal Multiplier

Lecture 18 Nominal Rates vs. Effective Rates

Lecture 19 Fiscal Multiplier Exercise 1

Lecture 20 Fiscal Multiplier Exercise 2

Lecture 21 Absorption, Pass-on, and Profitability Pricing

Lecture 22 Recap of the AdValorem Excise Tax module

Section 7: Mixed (Excise) Tax Structures

Lecture 23 Introduction to the Mixed (Excise) Tax module

Lecture 24 What is a Mixed (Excise) Tax?

Lecture 25 Multi-Tier Mixed Excise Taxes

Lecture 26 Minimum Excise Tax (MET)

Lecture 27 Minimum Retail Price (MRP) or Minimum Authorized Price (MAP)

Lecture 28 Predominantly Specific system vs. Predominantly AdValorem system

Section 8: Case Studies

Lecture 29 Introduction to the Case Studies

Lecture 30 Case Study 1

Lecture 31 Case Study 2

Lecture 32 Case Study 3

Lecture 33 Case Study 4

Lecture 34 Conclusion to the Case Studies

Section 9: Tax collection of Excise Taxes and other Taxes

Lecture 35 Tax collection mechanisms (Excise taxes vs VAT/GST)

Section 10: Final Test

Lecture 36 Intro to Final Test

Section 11: Outro and certificate of completion

Lecture 37 Outro to the course and access to your certificate of completion

This course is intended for everyone who wants to gain an edge on dealing with taxes and more specifically with Excise Taxes. This course will help you master some skills needed to thrive in this area. Whether you're a student, an industry professional, or simply curious about taxation, this course will provide you with the knowledge and tools you need to succeed and gain a competitive advantage.