Value added tax skills are necessary for sellers for the correct calculation of prices, execution of sales documents, accounting and taxation process. They will be useful to customers to determine the clean price of the purchased goods. In order to determine the net value of the goods or services without taking into account the value added tax, it is necessary to correctly allocate its amount from the total.
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First you need to determine the rate at which this product is taxed. Usually it is 18%, in some cases provided for by law, a reduced rate of 10%is used. If we are talking about a product in retail, then this information is mandatory indicated on the price tag. The cost of goods or services, as well as the tax rate in wholesale trade is contained in the corresponding counting account, as well as in the contract of sale.
2
If the rate is 18%, you can allocate VAT by dividing the full cost by 1.18. Accordingly, at a tax rate of 10%, the amount is divided by 1.1.
3
If the amount of VAT in monetary terms is indicated in the commodity check or the price tag, you can simply subtract it from the total cost, thus receiving a net price without taking into account tax.
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The need to allocate VAT also arises among suppliers of goods and services when drawing up documents for sale. As a rule, the corresponding columns of the invoice and invoice indicate the amount without VAT, the rate and amount of VAT in monetary terms and the full value, taking into account the tax.
5
If the full cost is initially known, then you can allocate VAT according to the above formulas, that is, dividing the amount by 1.18 or 1.1, depending on the tax rate. If the amount without VAT is known, the tax should be calculated by multiplying by 18% or 10%. The result must be added to the initial amount. You can also calculate the full cost by multiplying the price without VAT by 1, 18 or 1.1.
Knowing the methods for allocating the value added tax will allow sellers to calculate the optimal price for the goods, and to customers to evaluate its real value.
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If you are not hunting, you can just use the VAT calculator