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.
vat exclusive
Assuming that we are a registered VAT vendor, when we make a purchase from a non-VAT vendor we cannot claim any VAT input from the purchase due to the fact that no VAT was charged on the supply by the supplier who is a non-VAT vendor.
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.
VAT is accounted for in the Balance Sheet if you have the right to claim VAT on purchases and liability to pay VAT on sales respectively i.e. if you are VAT registered. VAT on purchases is accounted for in the Profit and Loss (purchases are entered gross i.e inclusive of VAT) if you have no right to claim it i.e. if you are not VAT registered.
1096.50
For when the VAT rate was 17.5%, to get the amount before VAT you needed to divide by 1.175 Now the UK VAT rate is 20%, you need to divide by 1.2 Example: If the price before VAT was £100, and VAT is 20%, then the price after VAT is £120. So to work it out backwards: If you know the price after VAT is £120 and you want to know the price before VAT: £120 divided by 1.2 = £100 Hope that helps.
From net figure: assume Vat rate=16% Vat amount=16/100*net figure from Gross figure Vat amount =16/116*gross figure
Per Rands's birth name is Per Rands Knudsen.
482618 Rands.
Work out 17.5% (current vat rate 2010) of the items price then minus the answer from the original price of the item
To find two thirds of 5500 rands, you multiply 5500 by 2/3. This calculation gives you approximately 3666.67 rands. Therefore, two thirds of 5500 rands is about 3666.67 rands.
110.44 Rands.
Leslie Rands died in 1972.
Bernard Rands was born in 1934.
choose where you want to show the vat type = click on the cell you want to add vat to type +0.175* then click on the cell you want to add vat to example - =Z1+0.175*Z1 hope this helps (its a formula by the way!)
Multiply the total by 0.2