A tax charged in proportion to the value of imported goods is?
A.
specific duty
B.
ad valorem
C.
custom duty
D.
excise duty
Correct Answer: Option B
Explanation
ad valorem is a tax paid in proportion to the estimated value of the goods or transaction concerned. Charge levied as a percentage of value of the item it is imposed on, and not on the item's quantity, size, weight, or other such factor.
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