Presets:
Net Amount
$100.00
VAT Amount
$20.00
Gross Amount
$120.00
Understanding Value Added Tax (VAT)
Adding VAT: Calculate tax added to a net price.
Gross Amount = Net Amount × (1 + Rate / 100)
VAT Amount = Net Amount × (Rate / 100)
Removing VAT: Extract net price and tax from a VAT-inclusive gross total.
Net Amount = Gross Amount / (1 + Rate / 100)
VAT Amount = Gross Amount - Net Amount