A tax that is based on the value of a good or service is an excise tax.

Name: A tax that is based on the value of a good or service is an excise tax.
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An excise tax is levied on specific goods, services, and activities (such as gasoline, tobacco, or alcohol), not directly based on the value of the good or service, but rather it is a fixed amount per unit or a percentage of the price. A tax based on the value of a good or service is typically referred to as a sales tax or value-added tax (VAT).

A Tax That Is Based on the Value of a Good