Zero-Rated

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Related to Zero Rated: Zero Rated Services

Zero-Rated

Goods and services that are not subject to a VAT. Examples of potentially zero-rated goods and services include financial services and items donated to a charity that the charity later sells.
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The implications are wide ranging and could enable the sales of cold take-away food to be zero rated for VAT purposes when supplied from retail outlets located in office blocks, factory premises and sports venues," said Steven Sim-monds, director of VAT services.
He said that five export oriented sectors have been declared zero rated which is a big breakthrough for the industrial sector.
Shahnaz Wazir Ali in the chair to discuss issues related to taxation of zero rated sectors and RGST.
ISLAMABAD, December 07, 2010 (Frontier Star): The National Assembly Standing Committee on Finance and Revenue has recommended on Tuesday that exports of all the five zero rated sectors (Textile, leather, carpets, surgical goods and sports) should remain zero-rated whereas the domestic sales need to be taxed.
Accordingly, the finished fabric and garments export should be zero rated and local sale may be charged 15% RGST.
ISLAMABAD, December 02, 2010 (Balochistan Times): Exporters on Thursday have urged the government not to impose General Sales Tax (RGST) on five zero rated sectors of industry.
Acting Chairman APTMA said the local supply of textiles and articles thereof should be zero rated in RGST in line with the current Sales Tax Act 1990.
The solution to this multiple problem was found ONLY in the introduction ZERO RATED regime for five export oriented commodities including TEXTILES.
Leaders of these associations strongly condemned the attempts to withdraw zero rated Sales Tax facility on exports in new RGST as an act to sabotage national economy and exports of the country.