zero-rated

(redirected from Zero-Rated Goods and Services)
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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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
Those in the zero-rated goods and services category include certain medications and medical equipment specified by the Ministry of Health and Saudi Food and Drug Authority, supply of gold, silver and platinum that is for investment purposes - at least 99 per cent pure - and tradeable in the international bar market.
Drum explained that the difference between zero-rated and exempt tax is that suppliers of zero-rated goods and services are eligible to reclaim their input VAT, whereas suppliers of exempt goods are unable to do so.
Zero-rated Goods and Services. A zero rate is provided for prescription drugs, medical devices, basic groceries, exports and international transportation.