Ad Valorem Equivalent


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Ad Valorem Equivalent

In international commerce, a tax on an import that is expressed as a percentage of the value of the import. It is applied during a tariff adjustment. See also: Ad valorem tax.
References in periodicals archive ?
Some tariffs were converted to ad valorem equivalents using unit import values and other trade data, as compiled by Global Trade Information Services, Inc.
Known as ad valorem equivalents (AVE), they convert specific duties into ad valorem terms because members, including the EU, have a substantial number of their tariff lines expressed as specific duties.