Which of the following is not an example of ad valorem tax?
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Value Added Tax
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Import Duty
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Property Tax
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Service Tax
D
Correct answer
Explanation
It is not an example of ad valorem tax.
The service tax is charged according to the price of service provided. It is taxed according to the price of the service provided, not according to its value. Hence, service tax is not an example of ad valorem tax.