Ad Valorem Tariff

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Related to Ad valorem duty: Specific duty, Ad Valorem Tariff

Ad Valorem Tariff

A tax on an import calculated as a percentage of the value of the import. This contrasts with tariffs on the weight, size, or quantity of the import. Like all tariffs, ad valorem tariffs are controversial, with opponents arguing that they are economically inefficient. See also: Ad Valorem Tax.
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However in September the given decision has been revised: the commission recommended returning ad valorem duty in the volume of 5%.
He has worked incessantly for us all and humbly and gratefully we present him with our ad valorem duty.