Zero Rated
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Zero-rated supplies are taxable supplies on which VAT is levied at a rate of 0%. The application of the zero rate must be supported by documentary proof acceptable to the Commissioner. Certain basic foodstuffs are zero-rated, provided it is not supplied for immediate consumption (that is, as a meal or refreshment) or added to a standard-rated supply.
Robert Downey, Jr.
Banking and Finance
60 Days
Fixed
A zero-rated product or ingredient is supplied together with a zero-rated foodstuff, for example: