Ad valorem Sentence Examples
Imports are charged 8%, exports 1% ad valorem duty.
About 4000 were thus annually imported, and an ad valorem duty was levied by the sultan, which produced about 4800 of annual revenue.
Under the old commercial treaties which lapsed about 1890 - but which have been maintained " provisionally " in force until one or other of the great powers consents to set a term to the negotiation of fresh treaties - an ad valorem duty of 8% was imposed on all articles imported into the Turkish empire.
Since then the import duties have been collected at the rate of 11% ad valorem under the supervision of the Public Debt Administration, the bondholders having certain rights, under the decree of Muharem, described below, over any increase of revenue arising from modification of the commercial treaties.
From his committee he reported in April 1888 the "Mills Bill," which provided for a reduction of the duties on sugar, earthenware, glassware, plate glass, woollen goods and other articles, the substitution of ad valorem for specific duties in many cases, and the placing of lumber (of certain kinds), hemp, wool, flax, borax, tin plates, salt and other articles on the free list.Advertisement
The first important step was taken in 1881, when a new general tariff was established, in which specific duties replaced the ad valorem duties chiefly applied in the treaty tariffs of 1860-66.
It substituted specific duties for the ad valorem duties of 1846 and 1857, and made some other changes of significance, as in the higher duties upon iron and steel.
Any subdistrict, town or city of the fifth or sixth class may provide for a graded school by voting for an ad valorem and poll tax which is limited as to amount.
For instance, the tariff on animals exposed for sale includes a charge of 5% ad valorem on slave girls, besides a charge of I rupee per head.
Revenue is raised chiefly by customs dues on spirits and tobacco and a general io% ad valorem duty on most goods.Advertisement
An octroi duty of 9% ad valorem formerly levied on all food stuffs entering the city was abolished in 1903.
The islands retain the exemption from direct taxation which they enjoyed under the British protectorate; in lieu of this there is an ad valorem tax of 202% on exported oil and a tax of 6% on wine exported to Greek ports; these commodities are further liable to an export duty of 12%, which is levied on all agricultural produce and articles of local manufacture for the maintenance and construction of roads.
To this relatively conservative bill, which substituted in many instances ad valorem for specific duties, and was intended by its author to be a revenue as well as a protective measure, were added many amendments which made the bill more strongly protectionist, and in some cases were vigorously opposed by Morrill.
Since 1894 a uniform customs duty of 5% ad valorem has been levied generally on imported goods, certain classes being placed on the free list, of which the most important are food-grains, machinery, railway material, coal, and cotton twist and yarn (exempted in 1896).
All tithes have been abolished, except those on cereals, carobs, silk cocoons, and, in the form of to% ad valorem export duties, those on cotton, linseed, aniseed and raisins (all other export duties and a fishing tax have been abolished); (4) sheep, goat, and pig tax; (5) an excise on wine, spirits and tobacco; (6) import duties; (7) stamps, court fees, royalties, licenses, &c.; (8) salt monopoly.Advertisement
At the same time a uniform duty of 5% ad valorem was established.
Revenue is derived from an ad valorem tax on all imports; the purchase and sale of animals; from royalties on trading concessions, and in other ways, including fees for the administration of justice.
The tariff, revised in 1906, is protective with a general ad valorem rate of 15% on goods not specifically enumerated.
On machinery generally there is a 3% ad valorem duty.
They reformed the tariff in harmony with the treaties, and with a view to the reduction of the import duties by quinquennial stages to a fiscal maximum of 15% ad valorem.Advertisement
The state revenue is derived from a general property tax, a poll tax, an income tax, a tax on transfers of realty, an ad valorem tax on the average capital invested by merchants in their business, a privilege tax on merchants and many other occupations and businesses; a tax on litigation, levied on the unsuccessful party, a collateral inheritance tax, and fines and forfeitures.
Such transfers are not, of course, liable to United Kingdom ad valorem stamp duty but may be subject to local requirements.
There is free trade between the Transvaal and the other British possessions in South Africa, and for external trade they all adhere to a Customs Union which, as fixed in 1906, imposes a general ad valorem duty of 15% on most goods save machinery, on which the duty is 3%.
Nominally, the import duties are moderate, so much so that Bolivia is sometimes called a " free-trade country," but this is a misnomer, for in addition to the schedule rates of io to 40% ad valorem on imports, there are a consular fee of i-% for the registration of invoices exceeding 200 bolivianos, a consumption tax of 10 centavos per quintal (46 kilogrammes), fees for viseing certificates to accompany merchandise in transit, special " octroi " taxes on certain kinds of merchandise controlled by monopolies (spirits, tobacco, &c.), and the import and consumption taxes levied by the departments and municipalities.
What Japan really needs is a national ad valorem duty upon the rental value of all land, with concomitant remission of current taxes.Advertisement
The taxed amount is a percentage of the product's cost (also known as taxing on an ad valorem basis).
Sales tax is an ad valorem tax assessed on all goods, services and property purchased.