Word: valorem
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Dates: during 1940-1949
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Then, in August, Great Britain slapped the 75% ad valorem tax on all U.S. films. The Loew-supported bottom fell out of Screen Plays, Inc. That night, trying to drown their sorrows in gin, the partners succeeded in refloating their enterprise on a tipsy wave of optimism. In four days of desperate rewriting, Screen Plays, Inc. shelled $339,000 off the picture's "nut," without sacrificing the essentials of the story. Loew agreed to stay in. In September, So This Is New York finally went into production-and came out $30,000 under the final budget. Even silent Stan...
What infuriated Arnstein most of all is Burma's 1% ad valorem tax on all merchandise in transit, a levy which would net the British possession's Government $1,000,000 on U.S. shipments to China...
...prices had had little real effect on U. S. trade except to intrigue traders. More than intrigued were U. S. customs officials. Required by law to consider both prices (since both are now quoted by the Federal Reserve), they could not decide which to use in figuring ad valorem duties...