Commerce WAEC

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

B. ad valorem

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 factors.

Sunday

Share
Published by
Sunday
Tags: Commerce

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

2 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

2 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

2 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

2 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

2 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

2 months ago