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escise

 

Definitions from the Web

Term: Escise

Description:

Escise, a verb, refers to the act of cutting out or removing something, often specifically related to cutting or removing taxes or duties. It can also be used as a noun to indicate the amount of tax or duty that has been removed.

Senses and Usages:

  1. Verb (1): To cut out or remove, especially referring to taxes or duties. Example: The government decided to escise certain taxes to stimulate economic growth.
  2. Noun (1): The amount of tax or duty that has been removed. Example: The escise on imported goods was lifted by the new trade agreement.

Sample Sentences:

  • The government is planning to escise several unnecessary taxes in the upcoming budget.
  • During the recession, the government had to escise many expenditure items to maintain a balanced budget.
  • The finance minister announced the removal of escise on luxury items, resulting in a decrease in prices.
  • The new trade agreement effectively escised tariffs on agricultural products, benefiting farmers.

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