How do you work out VAT?
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Currently VAT is at 14%, therefore:14 divide by 100% = 0.14. ... The multiplier is 1.14.R100 x 1.14 = R14.Therefore the VAT you would charge on your R100 product would be R14, giving you a VAT-inclusive price of R114.To calculate an amount before VAT from a VAT-inclusive price, we need to use a divisor.More items...
2023-05-07 14:52:09
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Amelia Patel
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Currently VAT is at 14%, therefore:14 divide by 100% = 0.14. ... The multiplier is 1.14.R100 x 1.14 = R14.Therefore the VAT you would charge on your R100 product would be R14, giving you a VAT-inclusive price of R114.To calculate an amount before VAT from a VAT-inclusive price, we need to use a divisor.More items...