Contents
Ad Valorem Duty
Summary of Ad Valorem Duty
Any duty that is expressed as a percentage of the value of the imported merchandise. Most customs duties, particularly in the developed nations, are ad valorem duties.
(Main Author: William J. Miller)
Definition of Ad Valorem Duty in International Trade
The following is a concept of Ad Valorem Duty in the context of international trade law, from the Dictionary of International Trade (Global Negotiator): Latin expression that means according to the value. Import duties or taxes expressed as a percentage of value. For example, the import duty for a product classified under Harmonized System 220421 is 4.5 per cent of the customs valuation. Its acronym is A.V. or Ad Val. See tariff.
Ad Valorem Duty and International Trade
Resources
See Also
duty
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