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Divide the TOTAL by (1+the VAT rate) - this will give you the VAT exclusive price, then simply subtract that from the total price to get the VAT amount. For example...
Say the retail price is 29.99 - Divide by 1.175 (current VAT rate)
This gives 25.52 - subtract that from the original price
Thus the VAT portion of the total price is 4.47
What else can I help you with?
What is the difference between vat exclusive and vat inclusive?
The difference between vat exclusive and vat inclusive is that vat exclusive is the price before tax is added on. Vat inclusive is the price after tax has been added on.
What will the amount excluding vat be if the amount inclusive vat is 7770?
6475 Assuming V.A.T. is 20% Calculated as 7770 / 1.2 As in 100% + 20% = 120 which is 1.2 of total
Is net of vat is the same with vat inclusive?
vat exclusive
How do I Calculate the gross figure when only the VAT amount is known?
Multiply the VAT figure by 5 ie: VAT amount £20 x 5 gives you a net figure of £100.00.
What do you mean by VAT Inclusive?
all included
Calculate 15 percent vat in 545?
If the 545 is inclusive of VAT then the VAT element is 71.08, however if the 545 is exclusive of VAT then the VAT would be 81.75
What is the difference between vat exclusive and vat inclusive?
The difference between vat exclusive and vat inclusive is that vat exclusive is the price before tax is added on. Vat inclusive is the price after tax has been added on.
What will the amount excluding vat be if the amount inclusive vat is 7770?
6475 Assuming V.A.T. is 20% Calculated as 7770 / 1.2 As in 100% + 20% = 120 which is 1.2 of total
Is net of vat is the same with vat inclusive?
vat exclusive
What is the 17.5 percent vat on 1020?
£1,020 plus 17.5% Vat of £178.50 = £1,198.50 If the £1,020 is inclusive of 17.5% VAT then the VAT amount = £151.92
Difference between vat inclusive and vat exclusive?
vat inclusive- Gross price (price after adding tax)vat exclusive-net price (price before adding tax)
How do I Calculate the gross figure when only the VAT amount is known?
Multiply the VAT figure by 5 ie: VAT amount £20 x 5 gives you a net figure of £100.00.
What happens to your selling price if you charge vat?
When you charge VAT (Value Added Tax) on your products or services, your selling price typically increases to include this tax. The final price customers pay will be the original price plus the VAT amount, which is a percentage of the original price. This means that while your base price remains the same, the total amount received from customers will be higher due to the VAT. As a result, it's essential to clearly communicate the VAT-inclusive price to avoid confusion for customers.
Is nett price inclusive of vat?
No, Net Amount is the amount before VAT is added. Once VAT is added it then becomes the Gross Amount. Net price is exclusive of VAT
How do you calculate vat in south Africa working backwards ie you've got the total of R1250 what is the amount less vat?
1096.50
What do you mean by VAT Inclusive?
all included
Gross of vat and net of vat?
There is no such term as gross of VAT. The amount with VAT is called the gross amount while the net of VAT is the amount after the VAT has been deducted.
