How is VAT calculated?

How is VAT calculated?

The VAT is calculated on the final price calculated by us.

For example, if the Final price (VAT included) is 100 euros and the VAT rate is 20% then the VAT amount will be 16.67 euros.

Here is the calculation used:
Final price - Final price / (1+ VAT rate)
= 100 - 100 / 1.2
= 16.67
 


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