partial exemption
C1CEFR level
80/100Rarity: very rare
TechnicalRegister
The apportionment of input tax where a business makes both taxable and exempt supplies, restricting recovery to the taxable portion.
The bank's partial exemption calculation limits input recovery to barely eight percent.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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