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R

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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

In case you have the VAT-inclusive rate of a product available and would want to determine the exclusive price, the formula for the calculation is given below.

Formula for Removing VAT through VAT Remover

Net Amount = Amount / (100 + VAT Rate) x 100.

  • Let’s say you bought a camera at R50 and the VAT applied to the product is 15%. Here is how you can find the VAT-exclusive net amount.
  • R50/ (100 + 15) x 100 = R43.47.

Or, you can use an alternate formula.

VAT Exclusive Price = VAT Inclusive Price / (1 + (VAT Rate / 100).

  • Let’s say you bought a camera at R50 and the VAT applied to the product is 15%. Here is a simple calculation to find the exclusive VAT amount.
  • R50/ (1 + (15/ 100) = R50/ (1 + 0.15) = R50/ 1.15 = R43.47.