zero-rated

(redirected from Zero-Rated Goods)
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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 ?
Other zero-rated goods and services include any exports destined outside the GCC region, services supplied to non-GCC residents, international transport services of goods and people and supply of qualified international transport vehicles and related services such as supply of spare parts, maintenance, repair and modifications of transport vehicles.
In regard to zero-rated goods, a credit is allowed for the VAT paid on the product at earlier stages in the value-added chain.
The only sensible conclusion to draw is that Mr Cameron, if he wins, would put up VAT and possibly extend it to zero-rated goods such as food, kids' clothes and bus fares.
Mr Harvey said the Chancellor's main options for tax increases are adding 1% on VAT, charging VAT on some zero-rated goods - which could include food, public transport and books and newspapers - and increasing tax on the highest paid earners.
The crooked clan registered 15 bogus companies between 1998 and 2004 across Merseyside, Cheshire, Derbyshire, Leicestershire and Scotland, creating fictitious sales transactions and invoices for the zero-rated goods in the conspiracy to evade paying VAT whilst pocketing reclaimed tax for fake business costs.
An Irish Customs source said: "We know the country is being used as a source of zero-rated goods.