The new tariff is based almost entirely on specific schedules; only in exceptional instances, such as in the case of drugs, are ad valorem duties imposed.
It also increases the ad valoremrate to 16-2/3 per cent.
England with the proper ad valorem duty, that is, the duty chargeable according to the value of the subject matter of the particular instruments or writings.
The United States is the one important country which has adopted in its tariff an extensive system of ad valorem duties, though it has not altogether disregarded specific duties; in some cases, indeed, the two are combined.
An ad valorem duty is the opposite of a specific duty, which is chargeable on the measure or weight of goods.
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.
It would be easy to ascertain the average value of any imported article for a series of years, and, instead of subjecting it to an ad valorem duty at a certain rate per centum, to substitute in its place an equivalent specific duty.
The reverse of the propositions would be nearer to the truth, because a much larger amount of revenue would be collected by merely converting the ad valorem duties of a tariff into equivalent specific duties.
As an abstract proposition it may be admitted that ad valorem duties would in theory be the most just and equal.
In this aspect, I desire to reiterate the recommendation contained in my last two annual messages in favor of imposing specific instead of ad valorem duties on all imported articles to which these can be properly applied.
The Tariff Board reports that no equitable method has been found to, levy purely specific duties on woolen and worsted fabrics and that, excepting for a compensatory duty, the rate must be ad valorem on such manufactures.
It is important to realize, however, that no flat ad valorem rate on such fabrics can be made to work fairly and effectively.
On the other hand, the findings show that the duties which run to such high ad valorem equivalents are prohibitory, since the goods are not imported, but that the prices of domestic fabrics are not raised by the full amount of duty.
In both tables costs are shown with and without transportation charges on foreign hats, and ad valorem rates of duty necessary to equalize differences in foreign and domestic costs have been computed.
Commissioners Marvin, Glassie, and Baldwin are, however, of the opinion that the existing rate of 60 per cent ad valorem substantially equalizes differences in costs of production in respect of hats valued above $9.
He believed that if the present difficulties were to be adjusted, they must be adjusted on the principles embraced in the bill, of fixing ad valorem duties, except in the few cases in the bill to which specific duties were assigned.
But he would only vote for the ad valorem system of duties, which he deemed the most beneficial and the most equitable.
On all articles not enumerated in this ancient tariff it is stipulated by the treaty of 1701 that the 'privileged nations,' or those who have treaties with Denmark, shall pay an ad valorem of one per cent.
Mr. Clay undertaking to bind all the Congresses for ever to uniform twenty per centum ad valorem duties.
Arriving at Jibuti, there is a one-percent ad valorem duty to pay.
In São Paulo there is an export tax of nine percent ad valorem levied by the state, and in Rio the state tax is eight and a half percent.
The eastern members insisted, therefore, that all property taxes should be ad valoremand that no one species should be taxed higher than another.
Ad valorem duties are a certain rate per cent upon the invoice value of the goods.
Equalization is frequently attempted by combination of specific duties upon all goods of a certain character with ad valorem duties upon all such goods above a certain quality.
The act imposed duties of twenty-five per cent upon cotton and woollen goods, and the highest ad valorem duty was about thirty per cent.
New England agricultural products were carefully protected, but the wool growers of Ohio and other middle western states lost the ad valorem duties on wool.
The first step in this connexion should be the increase of the present Customs tariff to the actual five per cent, ad valorem rate.
Foreign imported goods on the other hand, are only taxed at the rate of five per cent, ad valorem Customs duty at the first port of entry with another 2.
Indeed, from the very nature of an ad valorem duty this must be the result.
Our State revenue is mainly derived from a six mill ad valorem tax.
Notwithstanding the immense increase in the value of taxable property from year to year, it appears from the official records that the rate of ad valorem tax for general purposes has been increased from four to six mills.
In the Senate, an amendment was passed making the duty on woolens an ad valorem rate of forty-five per cent.
Although the ad valorem duties on cotton and woolen goods were raised, this was balanced by the doubled duty on raw wool.
The bill increased ad valorem duties by an amount varying from twenty-five to sixty-six per cent, additional.
The above list will hopefully give you a few useful examples demonstrating the appropriate usage of "valorem" in a variety of sentences. We hope that you will now be able to make sentences using this word.
