The term used in levying customs duties when such are fixed at rates proportioned to estimated value of goods concerned is __________.
Official USCG Answer & Rule Citation
Correct Answer: Option B — ad valorem
Ad valorem is a Latin term meaning 'according to value.' In customs and international trade, it refers to a duty or tax calculated as a percentage of the assessed value of the goods, rather than a specific rate based on weight, volume, or quantity of the items being imported.
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