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Definition of ad valorem adjective from the Oxford Advanced Learner's Dictionary

ad valorem

adjective, adverb

/ˌæd vəˈlɔːrem/

/ˌæd vəˈlɔːrem/

(finance)

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(of a tax) according to the estimated value of the goods being taxed
Word OriginLatin, ‘according to the value’.

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