VAT Calculation

Add VAT calculation formula:

Net amount = Initial amount
VAT amount = Initial amount х VAT rate _(%)
Gross amount = Initial amount + VAT amount

For example:

Initial amount = $200
VAT rate = 15%

So,

VAT amount = $200 x 15% = $30
Gross amount = $200 + $30 = $230

Subtract VAT calculation formula:

Gross amount = Initial amount
Net amount = Initial amount / (100% + VAT rate _(%)) x 100%
VAT amount = Gross amount – Net amount

For example:

Initial amount = $200
VAT rate = 15%

So,

Net amount = $200 / (100% + 15%) x 100% = $173,91
VAT amount = $200 – $173,91 = $26,09