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ad valorem
(redirected from ad val)

   Also found in: Dictionary/thesaurus, Acronyms 0.06 sec.

ad valorem

Commercial term implying that taxes or duties are calculated according to the value of a bond or commodity as opposed to its quantity.

Ad valorem duties – as opposed to specific duties – are those levied according to the value of the goods imported. Value-added tax (VAT), which is calculated as a specified percentage of the whole, is an example of an ad valorem tax.



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