Excise levy on goods or services considered to be luxuries rather than necessities (e.g., jewelry and perfume). Luxury taxes may be levied with the intent of taxing the rich or in a deliberate effort to alter consumption patterns, either for moral reasons or in times of national emergency. Today revenue productivity generally overshadows the moral argument.
Learn more about luxury tax with a free trial on Britannica.com.
Luxury can refer to several things:
Luxury accessories: high-income consumers naturally have the wherewithal to make luxury purchases and the Consumer Buying Trends Survey indicates they are indeed planning to spend at luxury levels. (consumer buying trends).
Jun 01, 2003; Everyone wants the luxury consumer on the premise, presumably, that the profit on luxury goods is better than at...
Luxury Consumers' Attitudes & Motivations Report: a Study of the 'New Normal' Luxury Consumer Market AFTER the Recession.(Report)
Jan 30, 2010; Research and Markets (httpwww.researchandmarkets.com/research/073558/luxury_consumers) has announced the addition of the...