An ad valorem tax is imposed on_____?

  • A Exports
  • B Imports
  • C The Value of a Commodity
  • D Special Commodities
jamb 2018economics

The correct answer is C. The Value of a Commodity

An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT).

Previous question Next question