ad valorem duty

1 definition found

ad valorem duty - Collaborative International Dictionary of English v.0.48 :

  Duty \Du"ty\, n.; pl. Duties. [From Due.]
     1. That which is due; payment. [Obs. as signifying a material
        thing.]
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              When thou receivest money for thy labor or ware,
              thou receivest thy duty.              --Tyndale.
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     2. That which a person is bound by moral obligation to do, or
        refrain from doing; that which one ought to do; service
        morally obligatory.
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              Forgetting his duty toward God, his sovereign lord,
              and his country.                      --Hallam.
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     3. Hence, any assigned service or business; as, the duties of
        a policeman, or a soldier; to be on duty.
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              With records sweet of duties done.    --Keble.
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              To employ him on the hardest and most imperative
              duty.                                 --Hallam.
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              Duty is a graver term than obligation. A duty hardly
              exists to do trivial things; but there may be an
              obligation to do them.                --C. J. Smith.
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     4. Specifically, obedience or submission due to parents and
        superiors. --Shak.
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     5. Respect; reverence; regard; act of respect; homage. "My
        duty to you." --Shak.
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     6. (Engin.) The efficiency of an engine, especially a steam
        pumping engine, as measured by work done by a certain
        quantity of fuel; usually, the number of pounds of water
        lifted one foot by one bushel of coal (94 lbs. old
        standard), or by 1 cwt. (112 lbs., England, or 100 lbs.,
        United States).
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     7. (Com.) Tax, toll, impost, or customs; excise; any sum of
        money required by government to be paid on the
        importation, exportation, or consumption of goods.
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     Note: An impost on land or other real estate, and on the
           stock of farmers, is not called a duty, but a direct
           tax. [U.S.]
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     Ad valorem duty, a duty which is graded according to the
        cost, or market value, of the article taxed. See Ad  valorem
        .
  
     Specific duty, a duty of a specific sum assessed on an
        article without reference to its value or market.
  
     On duty, actually engaged in the performance of one's
        assigned task.
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