Z

ZAR
This is the abbreviation for the South African Rand (currency)

Zero coupon bond
A bond which pays no interest through its life and which pays a capital gain by being issued at a substantial discount to the maturity value. If it is a deep discounted bond, the gain is subject to income tax.

Zero rated
A term relating to value added tax (VAT). It refers to goods (for example, food and books) which are taxable but at a zero rate. The significance of this rating is that businesses selling such goods may claim back their input tax (the VAT which they have paid to their suppliers). Businesses which provide goods and services which are VAT exempt (for example, stamps and postal services) are not able to reclaim input tax.

Zero dividend preference shares (zeros)
Preference shares which receive no dividends throughout their lives. Instead a fixed known amount is paid at maturity.