From Longman Business DictionaryRelated topics: Taxzero-ratedˌzero-ˈrated adjectiveTAX zero-rated goods and services are those on which you do not have to pay VAT (=a type of salestax). In Britain, most food and books are zero-rated —zero-rating noun [uncountable]The decision was taken to abolish the zero rating of VAT on gas and electricity bills for individual homes.
