Would it be better if fuel tax is taxed through a specific tax or an ad valorem tax?
19
May
May
What is the difference between ad valorem tax and specific tax?
Posted by Admin in Wednesday, May 19th 2010 1 comment so far
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An ad valorem tax (Latin: according to value) is a tax based on the value of real estate or personal property. An ad valorem tax is typically imposed at the time of a transaction (a sales tax or value-added tax (VAT)), but it may be imposed on an annual basis (real or personal property tax).
A Specific Tax is a system of taxation where the level of tax is fixed and independant of the value of the item being purchased.