tax rate not true!

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iMajed 2030

• February 14, 2022 15:18

hi

I think there is an error in calculating the tax rate when the selling price is inc tax

For example, as in the picture:
tax =15%
Selling price inc tax =100

Tax amount in the program = 13.4

While the correct tax = 15

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• 

  Aronium Support

  • February 14, 2022 22:48
  • Edited

  Hi,

  Please double check your math, there is no error in the VAT (Value Added Tax) calculation. 

  If you want to reverse calculate the amount without tax you need to use the following formula.

  Price without VAT = Price with VAT / (1 + (VAT rate/100)

  So your example will be:

  Price without VAT = 100 / 1.15 = 86.96

  You can find more explanations on the web:

  https://vatcalconline.com

  https://www.translatorscafe.com/unit-converter/zh-CN/calculator/vat/

  Regards, Alex

   

   

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  Al Bareeq Al Sadha

  • February 15, 2022 23:42

  If you select sale price included taxes then system will calculate your sale price 86.96 and vat 13.04 total result 100. 

  If you select after tax than your calculation will be perfect. thanks

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