%
R

Please wait for few moments…

RESULT

VAT Rate 15%

Calculation Based On R0

Operation ADD

VAT Amount R0

Gross Amount R0

RESULT

VAT Rate 15%

Calculation Based On R0

Operation REMOVE

VAT Amount R0

Net Amount R0

Adding VAT Formula

If you have the original price of the product and you would want to derive the inclusive VAT, the formula would be as follows.

Gross Amount = Total Amount / 100 x (100 + VAT Rate)

Total VAT = Gross Amount – Total Amount.

  • Price multiplied by 15% VAT is given by (100 + 15) = 115.
  • Let’s say a frame was bought at R75. Then, the total amount divided by 100 would be given by R75/ 100 = 0.75.
  • Now, the gross amount would be R86.25.
  • Next, the VAT would be given as, R86.25 – R75 = R11.25.