Medi Assist Healthcare IPO

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Trading Terms

Compound duty

When discussing duties related to finance, it's important to understand the difference between specific and ad valorem rates. A specific rate of duty is determined by factors like weight or quantity, while an ad valorem rate is based on the value of the goods. These two types of duties are often combined to create a more comprehensive rate for taxation. Understanding this concept is crucial for anyone working in the finance industry.
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