Business, Legal & Accounting Glossary
In proportion to the estimated value of the goods or transaction concerned.
Latin: According To Value
Denotes a tax, duty or commission calculated as a percentage of the total invoice value of goods or services. VAT (Value Added Tax) is an Ad Valorem tax.
Ad valorem duties are often levied on the basis of a product’s value.
An ad valorem tax is a tax based on the value of real estate or personal property.
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This glossary post was last updated: 6th July, 2019