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ad valorem
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ad valorem tax
ad valorem tax
/ˈæd ˈvælərəm tæks/
noun
A tax levied on the difference between a commodity's price before taxes and its cost of production
(
ad valorem tax
,
value-added tax
,
VAT
)
a tax levied on the difference between a commodity's price before taxes and its cost of production
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