Finance - V.A.T.
This page allows you to input any sum of money, and calculate either the tax that has abeen dded, or the tax that must be added, regardless of the currency in use.
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- Value Added Tax. A tax levied on certain material purchases. In the UK this tax is aimed at individuals, since Limited Comnpanies or the like can offset VAT that they have paid against their own tax bill.
In other countries this is known as 'Purchase Tax', 'Sales Tax', 'Mehrwertsteuer', 'Taxe sur la Valeur Ajoutee', 'Belasting over de Teogevoegde Waarde', 'Omsetninggafgift', 'Arvonlisavero', 'Arithmos Forologikou Mitroou', 'Imposta sul Valeur Aggiunto', 'Imposto sobre o Valor Acrescentado', 'Impuesto sobre el Valor Aoadido' and 'Mervadeskatt'.
- Most Governments will charge more than one rate at a time, depending on the nature of the goods. In the UK there are currently four rates: Exempt, Zero-rated (which are effectively the same thing), Standard and Reduced.
- Choose the correct currency from the 'Currency' drop-down select box.
- Insert your currency value into the 'Amount' field. Either type directly or paste, but don't use a currency symbol such as $ or £
- Choose the correct tax rate from the next, drop-down select box.
- Click either the '+ Add' or '- Remove' button below the input fields.
- The appropriate values will be calculated.
- A 'Results Area' will be displayed below, containing details of all calculations.
- If the 'Enter' or 'Return' keys are pressed while in a form field then the system won't know which calculation to do, so will carry out both calculations.
- To do further calculations simply change any values in the input fields and click the appropriate button again. (Press the 'Clear Form' button if you want to empty all of the input fields.)
- Press the 'Clear Results' button if you wish to discard the first results, otherwise further calculations will be added into the same area.
- Click the 'Print Results' button to display all current results in a new, more easily printable window.
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