ad valorem tax (Meaning)
ad valorem tax (n)
a tax levied on the difference between a commodity's price before taxes and its cost of production
Synonyms & Antonyms of ad valorem tax
No Synonyms and anytonyms found
ad valorem tax Sentence Examples
- The government implemented an ad valorem tax on imported luxury goods, affecting the cost of high-end items for consumers.
- Real estate transactions are subject to an ad valorem tax, with the amount calculated based on the property's assessed value.
- Businesses often face challenges in determining the ad valorem tax for their products, as it requires accurate valuation of goods.
- Customs officials use the ad valorem tax system to levy charges on imported goods, considering a percentage of the declared value.
- The ad valorem tax on vehicles is often structured to ensure that higher-priced cars incur a greater tax burden.
- The ad valorem tax rate on certain commodities may be adjusted to respond to changes in market conditions and economic factors.
- Local governments rely on ad valorem property taxes to fund essential services such as schools, roads, and public safety.
- The ad valorem tax on financial transactions is a contentious issue, with debates over its potential impact on the economy.
- In some regions, there are discussions about reforming the ad valorem tax system to make it more progressive and fair.
- The international trade agreement established guidelines to minimize disparities in ad valorem tax rates, promoting fair competition among member countries.
FAQs About the word ad valorem tax
a tax levied on the difference between a commodity's price before taxes and its cost of production
No synonyms found.
No antonyms found.
The government implemented an ad valorem tax on imported luxury goods, affecting the cost of high-end items for consumers.
Real estate transactions are subject to an ad valorem tax, with the amount calculated based on the property's assessed value.
Businesses often face challenges in determining the ad valorem tax for their products, as it requires accurate valuation of goods.
Customs officials use the ad valorem tax system to levy charges on imported goods, considering a percentage of the declared value.
