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
References in periodicals archive ?
It will ensure that their operations are in compliance with the FBR rules regarding the zero-rated regime.
Junaid Makda stressed that keeping in view the miseries being faced by the Industry, the government must reverse its decision to restore zero-rated regime for five export oriented industries while ample opportunity must also be provided to all the stakeholders to amicably settle this serious issue otherwise Pakistan exports, which comprise mostly of textile products, will go all the way down to zero.
"From the next budgetary year, there will be no energy package that earlier the government had extended to zero-rated industry, and the decision has been reversed under IMF pressure," a senior official close to a government adviser confirmed this to media, but in the next instance he added that the final decision is yet to be taken by the cabinet after due process.
Earlier, the representatives of five zero-rated export-oriented sectors briefed the committee about the implication of eliminating zero rated regime for these export sectors.
While on one hand the exporting sector is rigorously protesting against the measure, Adviser to PM on Finance Abdul Hafeez Shaikh remains firm on his stance, saying that the zero-rated regime stays intact for the businesses if they export, while the 17percent sales tax will be levied if they are making their sales domestically.
A protest rally which culminated at the Karachi Press Club (KPC) saw industrial workers carrying banners and wearing black bands on their arms, demanding continuation of the zero-rated status for exports.
The area with the highest number of zero-rated premises is the city centre, followed by Sparkhill and Acocks Green in joint second place.
Conversely, under Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law, and its provisions vetoed by the President, sale of raw materials or packaging materials to a local export-oriented enterprise with export sales exceeding 70 percent of total annual production is no longer qualified as a zero-rated sale.
The expected services concern the delivery of super unleaded 98, super unleaded 98 zero-rated, diesel and zero-rated diesel fueled by tanker, at the request of the port service, in the tanks of the harbor refueling station.
The government has allowed zero-rated sales tax on the supply of electricity and gas to textile units in order reduce the cost of production and make products compatible in the international markets.
Summary: Majority of healthcare services have been classified as zero-rated
Bahrain Consumer Protection Society chairman Majid Naser Ahmad said this would ensure customers were not paying tax for items listed under zero-rated or exempt categories.