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What is Zero Tax?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › What is Zero Tax?

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • October 24, 2015 at 9:28 am #278699
    secondstar
    Member
    • Topics: 16
    • Replies: 220
    • ☆☆☆

    Hello Sir,
    I heard it somewhere, can’t find out what it actually is… Is it on exports?? how should it be treated?
    Please help!

    Thanks in advance.

    October 24, 2015 at 1:08 pm #278719
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    It is on exports (but you do not need to know that – this is not a tax exam and it is not until F6 that you will be tested on the rules).

    However, if you are told that, for whatever reason, the rate of tax is 0% then everything is treated in the normal way we treat sales tax – it is simply that the figure for the tax will be zero 🙂

    October 25, 2015 at 7:53 am #278809
    secondstar
    Member
    • Topics: 16
    • Replies: 220
    • ☆☆☆

    Thanks for the answer sir… 🙂

    October 25, 2015 at 8:49 am #278819
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    You are welcome 🙂

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    Posts
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