From the Latin, 'according to the value'. An adjective applied to tax, duties etc. Where the amount payable to the inland revenue, excise authority or whoever receives it is directly related to the size of chargeable transaction and is not a fixed amount. Duty on share capital is payable on an ad Valorem basis by the company, whereas a driving license fee is o a fixed amount.
A D V E R T I S E M E N T