ZERO-RATED SALES Definition

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ZERO-RATED SALES is when a sale is taxable at the rate of 0%, i.e. no sales tax. Some examples could be: basic groceries, prescription drugs or certain medical devices.

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DIRECTORS VALUATION is a valuation that is not an independent valuation.

RECOVERABLE AMOUNT is, in relation to an asset, the net amount that is expected to be recovered through the cash inflows and outflows arising from its continued use and subsequent disposal.

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