October 7, 2022

Wire Service Canada

Complete Canadian News World

Because they will never remove the excise tax

It is talked about every time the price of gasoline goes up: however, it is unlikely that fuel costs will go down. here because.

(Pixabay)

When it comes to gasoline and its price, that’s it Average, the controversy always ends with excise duties, which are exactly the taxes paid on fuel. In particular, these days, due to the massive rise in petrol and diesel prices due to the war in Ukraine, The issue of excise tax returned to make citizens and politicians discuss. So, a few days ago league at Senate Demanded action: Through a proposal, the union assumed that production duties on gasoline would be suspended until they returned to prices 2019 Before the outbreak of the pandemic, when the price was much lower and affordable for everyone.

How does gasoline cost?

(Pixabay)

There are three components that affect the price of gasoline. The first is due to those who sell fuel, and therefore the cost of raw materials, then the profit that the owner of the pump must receive, and it is also clear the account of the carriers.
There is a second factor value added tax, tax on Value Added. Finally, the third criterion is precisely the excise tax. Technically, it is an indirect tax that affects some goods, such as energy Electrician Which tobacco, When consuming or producing the same product.

Where does the excise money go?

(Pixabay)

Currently, the costs of the war are being paid in Ethiopia, the reconstruction after the Florence floods, the UN missions in Lebanon and Bosnia and the migration management after the 2011 Libyan crisis, and therefore they continue to fund the war in Ethiopia, the reconstruction after the floods in Florence, and the UN missions in Lebanon, Bosnia and the management of migrants after the 2011 Libyan crisis. February 28 and March 6, The cost of a liter of gasoline is 1.95 on average. By subdivision, it is possible to calculate that 0.87 indicates net price, 0.35 indicates value added tax, and 0.73 indicates excise tax. Translated and simplified again: Beyond 50 percent What we pay for gasoline ends up in VAT and taxes. Something changed when it came to diesel. Always specifying liter parameters, it is about 0.62 for excise tax, and 0.33 for VAT: therefore, 88 percent reflects the net piece values. By comparing Italy data and prices with the rest of European countries, it can be verified that our costs are Among the top Regarding indirect taxes.

READ  Dacia Duster, 2022 news of the successful low-cost SUV