zero-rated

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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 ?
He suggested that the decision of the withdrawal of Zero Rating facility should be put in abeyance till a proper and efficient system of refunds is made, tested and implemented.
The Federal Board of Revenue (FBR) has said that the withdrawal of the zero rating regime from these five industries could possibly fetch up to an additional Rs 75 billion in government revenues.
Interestingly, the prime minister's adviser on commerce and textiles has gone public against the withdrawal of zero rating facility saying this would go against industrialisation and export enhancement.
Under the IMF programme, the government is committed to do away with zero rating regime for five export-oriented sectors, including textile, garments, carpets, surgical and sports goods.
The LCCI office bearers said that discontinuation of zero rating status will result in disaster of export oriented industries that will lead foreign exchange loss, unemployment and cut in the revenues of the government.
There are now 101 establishments in the city that have been given a zero rating, compared with 90 under previous figures in December.
Unsurprisingly, most of the premises with zero rating were cheap takeaways - but there were some more well-known venues in the city centre such as the The Jekyll And Hyde pub, The Wellington, and Bodega Bar & Cantina that appear on the list.
(56.) See BJ Ard, Beyond Neutrality: How Zero Rating Can
Zero rating would essentially remove the price impact of the GST, but retain its tax reporting functions.
The Tax Laws Amendment Bill seeks to move some items from zero rate to exempt in order to limit zero rating to exports.
The above notwithstanding, the BIR had been issuing VAT zero rating certification to taxpayers in relation to sales of goods to PEZA registered entities.
In order to apply the zero rating, the supplier of goods and services must retain evidence that they have been transported from the Gulf Cooperation Council (GCC) region, within 90 days after supply, as stipulated in Article 32 of the regulations.