Share this entry

Share this page

zero-rated

Line breaks: zero-rated

Definition of zero-rated in English:

adjective

Finance , British
Denoting goods or services that are taxable for VAT, but with a tax rate of zero.
Example sentences
  • It has no VAT repayment claim as the goods were zero-rated on import.
  • Taxable supplies mean the value of all taxable supplies including zero-rated supplies.
  • Supplies made by these organisations will be zero-rated.

Derivatives

zero rating

1
noun
Example sentences
  • The farmers want the Government to revert to the zero rating of VAT on the inputs, a system that was introduced two years ago but abandoned in 2005.
  • With zero rating, VAT is included with the price of the animal.
  • The Customs union would entail all member states applying same customs rate of duty on all goods coming from outside Comesa while zero rating all goods from within the regional grouping.

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day resilient
Pronunciation: rɪˈzɪlɪənt
adjective
able to recoil or spring back into shape…