Compulsory Zero-Rating Of Land

The compulsory zero-rating (CZR) of land rules have applied since 1 April 2011. The rules were introduced to combat a pattern of transactions where Inland Revenue (IRD) was paying GST refunds to land purchasers, but there was no corresponding GST returned by the vendor. Although simple in principle, mistakes are being made. To recap, the … Continue reading Compulsory Zero-Rating Of Land