Tax Basics

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Definitions
Zero-Rated Goods and Services
Zero-Rated Goods Zero-Rated Services VAT Input Tax Credit Exempt Supplies Tax Basics Tax Accounting
Zero-rated goods and services are taxable for value-added tax (VAT) purposes but are currently subject to a tax rate of zero. In contrast to exempt supplies, VAT attributable to zero-rated supplies is allowable for input tax credit.
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