ad valorem tax
tax which is added according to the worth of an item | ||||
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Ad valorem tax definition was found in categories: Language, Idioms & Slang(2) Encyclopedia(1)
Ad valorem tax Definition from Language, Idioms & Slang Dictionaries & Glossaries
| WordNet 2.0 |
ad valorem tax
Noun
1. a tax levied on the difference between a commodity's price before taxes and its cost of production
(synonym) VAT, value-added tax
(hypernym) excise, excise tax
Noun
1. a tax levied on the difference between a commodity's price before taxes and its cost of production
(synonym) VAT, value-added tax
(hypernym) excise, excise tax
| hEnglish - advanced version |
ad valorem tax
ad valorem tax
n : a tax levied on the difference between a commodity's price before taxes and its cost of production [syn: vat, value-added tax ]
ad valorem tax
n : a tax levied on the difference between a commodity's price before taxes and its cost of production [syn: vat, value-added tax ]
Ad valorem tax Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Ad valorem tax
The term "ad-valorem" is Latin for "according to value."
An ad-valorem tax (Latin: by value) is a tax based on the value of real estate or personal property. An ad-valorem tax is typically imposed at the time of a transaction (a sales tax or value-added tax (VAT)), but it may be imposed on an annual basis (real or personal property tax) or in connection with another significant event (inheritance tax or tariffs). A related concept is the fixed-rate tax, in which the tax base is the quantity of something, regardless of its price. For example, in the United Kingdom, a tax on the sale of alcoholic drinks is calculated on the quantity of alcohol in the drink, rather than its price.
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