Definition of zero rating in English:

zero rating

noun

British
Finance
  • See zero-rated

    • ‘Previously zero rating had been available in respect of building services supplied in the course of constructing any building regardless of its intended use.’
    • ‘With zero rating, VAT is included with the price of the animal.’
    • ‘The zero rating on books is a long standing concession to avoid taxing knowledge.’
    • ‘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.’
    • ‘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.’

Pronunciation

zero rating

/ˌzɪərəʊ ˈreɪtɪŋ/