The standard rate of VAT was temporarily reduced to 15 per cent on 1 December 2008 and it returned to 17.5 per cent on 1 January 2010.
VAT calculator usage: Simply enter the amount, choose vat calculation operation (include or exclude),
tax percentage and press «Calculate» to calculate VAT amount.
Why?
This site helps for easy and fast VAT calculation.
How to calculate VAT
- Excluding VAT from gross amount:
VAT calculation formula is the following: to calculate VAT having the gross amount you should divide the gross amount by 1 + VAT percentage (i.e. if it is 15%, then you should divide by 1.15), then subtract the gross amount, multiply by -1 and round to the closest value (including eurocents). Last two operations are not arbitrary since you see the value even before you do them. - Adding VAT to net amount:
Easy deal. Simply multiply the net amount by 1 + VAT percentage (i.e. multiply by 1.15 if VAT is 15%) and you'll get the gross amount. Or multiply by VAT percentage to get the VAT amount. Rembember to round to eurocents.