Economics · Customs Duties
What does it mean when import duties are described as 'ad-valorem' duties?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The duty is charged as a flat fee per consignment regardless of its value
- 2The duty varies according to the country of origin of the commodities
- 3The duty is calculated as a fixed percentage of the assessed value of the goods✓
- 4The duty is levied based on the physical weight or volume of the goods
Correct answer
The duty is calculated as a fixed percentage of the assessed value of the goods
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