Which is a 'zero-rated' supply under the Nigerian VAT Act?
ALuxury cars
BGoods/services purchased by diplomatic missions; exportsCORRECT
CImported watches
DHotel services
CITNIndirect Taxation
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
Zero-rated supplies attract 0% VAT but allow input VAT recovery — includes exports and diplomatic purchases.
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