Definition
A customs duty calculated as a percentage of the customs value of the imported goods. Most ordinary customs duties in the South African tariff are expressed ad valorem, for example a 20 percent rate applied to the transaction value. It contrasts with specific duty, which is charged per unit of quantity.
Frequently asked questions
What is Ad Valorem Duty?
A customs duty calculated as a percentage of the customs value of the imported goods. Most ordinary customs duties in the South African tariff are expressed ad valorem, for example a 20 percent rate applied to the transaction value. It contrasts with specific duty, which is charged per unit of quantity.
Which glossary terms are related to Ad Valorem Duty?
Ad Valorem Duty is a customs & sars term in the South African import/export industry. Related terms in the same area include 70707070 (Customs Code), AEO (Authorised Economic Operator), Anti-Dumping Duty, B-BBEE (Broad-Based Black Economic Empowerment), Bill of Entry — each has its own plain-English definition in the TradeCaravan glossary.