Ad val is a Latin term that is commonly used in business and commerce. It is a term that is used to describe the value of a product or service based on its market price. Ad val is often used in the context of taxation and customs duties, where it is used to determine the amount of tax or duty that should be paid on a particular product or service. In this article, we will explore the definition and meaning of ad val, its origin, and its associations.
Definitions
Ad val is a Latin term that means “according to value” or “based on value.” It is a term that is used to describe the value of a product or service based on its market price. Ad val is often used in the context of taxation and customs duties, where it is used to determine the amount of tax or duty that should be paid on a particular product or service.
Origin
The term ad val has its roots in Latin, where it means “according to value.” The term has been in use for centuries and has been adopted by many languages, including English.
Meaning in different dictionaries
According to the Merriam-Webster dictionary, ad val means “according to value.” The Oxford English Dictionary defines ad val as “according to the value of the goods or property in question.”
Associations
Ad val is often associated with taxation and customs duties. It is used to determine the amount of tax or duty that should be paid on a particular product or service based on its market value.
Synonyms
Synonyms of ad val include “based on value,” “according to value,” and “value-based.”
Antonyms
Antonyms of ad val include “fixed price,” “flat rate,” and “set fee.”
The same root words
The same root words as ad val include “ad valorem,” which means “according to value,” and “ad valorem tax,” which is a tax that is based on the value of the goods or property in question.
Example Sentences
- The customs duty on this item is calculated ad val, based on its market value.
- The ad valorem tax on this property is 2% of its market value.
- The value of this painting is ad val, based on the current market prices for similar works of art.