[samuelethan]

VAT Calculator Question​

Hello everyone,

I need some help with a VAT calculation. I'm trying to figure out a product's VAT-inclusive and exclusive prices.

Let's say the VAT rate is 20%, and the product's price excluding VAT is $100.

How do I calculate the VAT inclusive price and how much the VAT itself would be?

Also, if I only have the VAT-inclusive price with vatcalculatorg.com, how can I determine the VAT-exclusive price?

Any clear formulas or examples would be greatly appreciated.

 

[katdragon2010]

If the VAT is 20%, then you take the exclusive price and multiply it by 120%. On $100 the total is $120, with the VAT portion being $20. If the cost is inclusive,then you divide the price by 6. If the inclusive price is $120, then when divided by 6, the VAT portion is $20. I hope that helps.

 

[Dabeaver]

Try dividing by 22

 

[Kevin Durie]

What the he'll is a VAT , explain yourself ?

 

[Anne69]

Value added tax

 

[Luckyus]

Value added tax

Or in a German Bro Thel, Vun Ata Time?

 

[Old timer]

Value added tax

That's a Pommie thing ours'is GST.

 

[GrannyMae]

From Mr Google:

How to Calculate Inclusive Tax​

If a rate is inclusive of tax, to work out the net transaction amount (amount without tax) and the tax amount, you will need to make the following calculation.



(Gross amount / 1.(Tax amount without a decimal point)) = Amount without tax

Gross amount - (Gross Amount / 1.(Tax amount without a decimal point)) = Tax amount



Example: If the tax percent is 5.875%, and the gross amount is 100, then the calculation is as follows:



(100 / 1.05875) = Amount without tax

100 - (100 / 1.05875) = Tax amount



Example Calculations:



If the tax percent is 5.875%, and the gross amount is 100, then the calculation is as follows:

(100 / 1.05875) = 94.45 (net amount)

Then:

100 (gross amount) - 94.45 (net amount) = 5.55 (tax amount)

Example: If the tax percent is 20%, and the gross amount is 100, then the calculation is as follows:

(100 / 1.2) = 83.33

100 (gross amount) - 83.33 (net amount) = 16.67 (tax amount)

 

[BillyB]

What the he'll is a VAT , explain yourself ?

What the he'll is a VAT , explain yourself ?

value added tax UK gst Australia