Specific Tax
/ˈspesɪfɪk tæks/
Definitions
- (n.) A fixed amount of tax levied on a particular item or transaction, irrespective of its value or price.
The government imposed a specific tax of $2 on every pack of cigarettes sold.
Forms
- specific tax
- specific taxes
Related terms
See also
Commentary
Unlike ad valorem tax, a specific tax is assessed on a fixed quantity or unit rather than on the monetary value, which can simplify calculation but may not adjust for inflation or price changes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.