Zero-Rated Goods

Zero-rated goods refer to specific goods or products that are exempt from value-added tax (VAT) or goods and services tax (GST). These goods are taxed at a rate of zero percent, meaning no tax is applied to their sale or consumption. The purpose of zero-rating certain goods is typically to make essential or socially important products more affordable and accessible to consumers. Governments often zero-rate items like basic food items, healthcare supplies, educational materials, and exports to support the well-being of their citizens and promote economic growth.