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ad valorem

Syllabification: (ad va·lo·rem)
Pronunciation: /ˌad vəˈlôrəm/

Definition of ad valorem

adverb & adjective

  • (of the levying of tax or customs duties) in proportion to the estimated value of the goods or transaction concerned.

Origin:

late 17th century: Latin, literally 'according to the value'

ad valorem in other Oxford dictionaries

Definition of ad valorem in the British & World English dictionary
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