Divide 2200 by 100 and multiply by 17.5.
2200 ÷ 100 = 22
22 x 17.5 = 385
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12 percent VAT of 2350 pesos is 282 pesos.
The VAT rate is 4 percent.
The cash-till receipt totals £56.00 without VAT.So find the VAT of £56.00 at 12%12 ÷ 100 × 56.00 = £6.72Therefore:£56.00 + £6.72 = £62.72
It is a very vague Question being asked in a generalized manner. Do specify which type of taxation concepts do you want to clarify. Taxation can be related to HR ( income Tax) , Purchasing ( VAT , CST) , Billing ( E1 , NON E1) ,Transportation (Octroi ) and many more. Therefore do choose a field in which you want to understand Taxation. Sachin
VAT and other taxes such as sales tax. Calculating how much tip to give at a restaurant. nutritional advice (referring to the labels on food, example 20% Vitamin C, which means that 1 serving of the food or drink gives you 20% of the recommended daily allowance. So if you drank 5 servings, then you would receive 100% of the recommended daily allowance. Interest rates - credit cards, they may quote 12% interest, which would be 1% per month. So if you carried a balance of $1000.00 they would charge you $10.00 interest that month.