How do i calculate the VAT refund with 20%? Before i used to divide by 6.7142 to calculate the 17.5%?
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How do i calculate the VAT refund with 20%? Before i used to divide by 6.7142 to calculate the 17.5%??
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Answer:
Very simple. Divide by 6 to give the VAT amount
paco alvarez at Yahoo! Answers Visit the source
Other answers
IT WAS 7/47 NOW DIVIDE BY 6.
I don't get points any more
If the figure you have includes vat already, then divide by 6 to get the amount of vat included. ie: £120 inc vat, divided by 6 = £20 vat included in price. If your figure does not include vat then divide by 5 to get the amount of vat due to be added. ie: £100 excluding vat, divided by 5 = £20 vat to be added.
Cala
To find any VAT % add the number 20 in this case to 100 then divide by 20 so 120 / 20 is 6. Nice and easy 20% the original was 8% back in the 70s 108 /8 so 13.5.
Ashcan
divide by 1.2 for 20% vat or divide by 1.175 for 17.5% vat. then subtract .Do not know about your formula
Q
Someone had been giving thumbs down to a lot of correct answers! The correct answer is 6, as said by many earlier posters. at 17.5% the VAT rate was 117.5/17.5 (or 47/7 or 6.7142) at 20% it will be 120/20 (or 6)
BD
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