VAT TAX CODES

Tax Code

Rate

Description

0

n/a

Outwith the scope of VAT

ZR

0%

Zero rated. i.e taxable at 0%

EX

n/a

Exempt from VAT

IR

n/a

VAT is irrecoverable

RO

5%

Reduced rate outputs i.e. sales

RR

5%

Reduced rate inputs i.e. purchases

PR

17.5%

Partially recoverable

SO

17.5%

Standard rated outputs i.e. sales

SI

17.5%

Standard rated inputs i.e purchases

VO

17.5%

VAT only invoice

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