How do you calculate VAT?

 

The portion of VAT can be calculated as follows:

Price (incl. VAT) x tax rate / ( 100 + tax rate)

E.g. graphic designer makes a 1000€ invoice in which 24% VAT is included. How many euros is the portion of VAT?

1000 € x 24 / (100 + 24)
=1000 € x 24 /124
=193,55 €

UKKO.fi salary calculator will automatically count the portion of VAT.

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