zero-rated

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Related to Zero Rated: Zero Rated Services

zero-rated

denoting goods on which the buyer pays no value-added tax although the seller can claim back any tax he has paid
References in periodicals archive ?
The Committee noted that government should not impose 17 percent GST on these sectors after eliminating zero rated tax facility.
Muhammad Jawed Bilwani, Chief Coordinator, Five Zero Rated Export Sector and Chairman Pakistan Apparel Forum demanded the government that the Zero Rating for Five Export Oriented on basis of 'No payment No refund system' should be continued and converted into an Act from the existing SRO system.
This was after the company sought clarification from KRA on whether the project is zero rated or exempt from VAT and excise duty.ZERO RATEDKRA explained that since Itare dam water supply project was an aid funded project, supplies made to the project are zero rated.
The sources said the government may have to shift the entire industry including the five zero rated export sectors and power generation to imported liquefied natural gas (LNG) instead of domestic gas supplies and yet spare 150 MMCFD for residential consumers at breakfast, lunch and dinner timings even if this required diverting some LNG supplies to the residential sector.
The main difference between the two is that companies that supply zero rated goods or services, they can still reclaim all their input VAT.
This means that a 'qualifying educational institution' shall not charge VAT on the zero rated educational services they provide, and will be able to recover the VAT they pay on related costs when they file their tax returns.
Adil Butt urged the government that instead of ending zero rated regime it should implement this system in true spirit in budget 2017-18 as billions of rupees of exporters are still stuck up in refund regime.
All supplies of carbon credits will be zero rated when traded in the UK.
It follows a Court of Appeal ruling sandwiches and cold take-away foods bought from outlets operated by Compass Contract Catering in BBC Television Centre should be zero rated.
Currently, GST-registered persons who provide warranty parts or services on either tangible personal property or real property in Canada to non-resident, non-GST-registered persons are not required to invoice the GST and HST on such supplies pursuant to this zero rated provision.
LCCI President Almas Hyder, Senior Vice President Khawaja Shahzad Nasir and Vice President Faheem Ur Rehman Saigal said that export revenues will be affected by withdrawal of zero rated facility and will potentially create a balance of payment crisis for the economy.
LAHORE -- : The Businessmen Panel for FPCCI, on Wednesday demanded from the government to revisit the policy on abolishing the zero rated regime on export industries in the budget speech which may hit the country exports further and will start the uncompetitiveness of the Pakistani products internationally.