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Assuming this refers to VAT as Value-added-tax, you need to know what the VAT rate is, in addition to the TotalAmt.
TotalAmt = origAmt + VATrate*origAmt = origAmt(1+VATrate)
origAmt = TotalAmt/(1+VATrate)
VATAmt = origAmt*VATrate = VATrate*TotalAmt / (1+VATrate)
For example, if your total is 10.50, and the VAT rate is 5%, The VAT amount would be:
VATamt = (.05)*(10.50) / (1.05) = .50
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How do you compute 12 percent vat on a receipt?
Multiply the pre-VAT amount by 0.12
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
How do you calculate a VAT amount of 14 percent from a total amount of 2450?
Divide the 2450 by 1.14 which gives you 2149.12, then subtract that from the original number to reveal the VAT amount of 300.88. This works for any figure you want to remove a percentage from.
Need a vat calculator only to put in amount and the vat amount will show south Africa?
Not unless you can program a key with the VAT rate, since the tax rate varies from one country to another and calculator makers prefer to make a model that will sell across the world rather than in only one country.
What is the amount of matter is given space?
The amount of matter is given space is mass.
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.
How do you work out vat on a calculator?
From net figure: assume Vat rate=16% Vat amount=16/100*net figure from Gross figure Vat amount =16/116*gross figure
What is vat c4?
The Form VAT C4 is a form used a certificate issued by a selling VAT dealer to a purchasing VAT dealer. It lists the items that were sold, tax invoice number, date, taxable amount, and amount of tax.
Do you include VAT in the capitalisation of Fixed assets?
VAT is typically not included in the capitalization of fixed assets as it is considered a recoverable tax that will be offset against VAT collected. For property, plant, and equipment, the cost is usually recorded net of any VAT paid. VAT is treated as a separate tax liability or asset depending on whether it's recoverable or payable.
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.
How do you compute 12 percent vat on a receipt?
Multiply the pre-VAT amount by 0.12
How do you calculate the vat from a final vat inclusive amount?
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 priceThus the VAT portion of the total price is 4.47
What is form vat C4?
The Form VAT C4 is a form used a certificate issued by a selling VAT dealer to a purchasing VAT dealer. It lists the items that were sold, tax invoice number, date, taxable amount, and amount of tax.
What is VAT inc?
Value Added Tax Included (in the overall price) Most businesses are exempt from VAT so sometimes the price is given Excluding VAT. VAT is currently 15%
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
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
Does net sales include VAT?
Not according to direct.gov.uk "When someone charges you VAT they multiply the original ('net') price of the item or service by the VAT rate to calculate the amount of VAT to charge. They then add the VAT amount to the net price to give the 'gross' price - the price you pay." http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/DG_4015895
