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Legal Term - Ad Valorem
Ad valorem is a Latin term that means "to value". In accordance with or relative to the worth or significance of something. An ad valorem tax, such as stamp duty land tax or value-added tax, is levied based on the worth of the goods or property being taxed.
Tax is imposed on the value of the property or transaction that is subject to taxation. An ad valorem duty is imposed based on the worth of the commodities involved, rather than their quantity.
Ad valorem is a Latin term that means "to value". In accordance with or relative to the worth or significance of something. An ad valorem tax, such as stamp duty land tax or value-added tax, is levied based on the worth of the goods or property being taxed.
Tax is imposed on the value of the property or transaction that is subject to taxation. An ad valorem duty is imposed based on the worth of the commodities involved, rather than their quantity.
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