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Compute VAT; formula, Access/VBA library

Posted on 1997-06-11
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Last Modified: 2008-02-26
Does anyone know VAT formula or can tell me where i can find Access/VBA library for  VAT formula. In Europe and Canada, they use VATand can be up to 10 VATs.
Let say, given: qty=1, Price=$100.00, Amount= qty * Price = 1 * 100.00, where:      " * "  means multiplication.
 Compute each tax and Total  VAT if:
 Sales tax=3.00%, Province tax=3.00%, County tax=1.5%, City tax=1.5%, Government tax=2.00%.

Thanks in advance to all..
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Question by:pisoft
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Author Comment

by:pisoft
ID: 1602823
Edited text of question
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Author Comment

by:pisoft
ID: 1602824
Adjusted points to 100
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LVL 3

Expert Comment

by:Bogey
ID: 1602825
The calculation is simply the PRICE times the product of each tax.

In you example:

PRICE * (1.03 x 1.03 x 1.015 x 1.015 x 1.02) = TOTAL

If you prefer just the actual TAX amount, TAX = TOTAL - PRICE




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Author Comment

by:pisoft
ID: 1602826
Bogey, Quebec does not compute it that way as well as other European countries. You computed it just like US SAles tax.
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LVL 13

Expert Comment

by:akb
ID: 1602827
VAT = Price * 0.11482501655 or 11.482501655% (I think).
Actually I wouldn't have a clue but this numer seems to make sence!
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Expert Comment

by:Philippe
ID: 1602828

Pisoft,

Unless your question is not well formulated, the answer is easy.

To calculate the total tax add up all taxes and multiply the result by the original price:

Let's suppose you have the tax in percent as in
T1 = 15 (15% state tax), T2 = 12 (12% county tax), T3 = 5 (5% bozo tax)

total = price * (T1+T2+T3+100)/100

Each single tax is

Tax1 = price * (T1+100)/100, Tax2 = price * (T2+100)/100, etc.

Hope this helps,

 Philippe

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LVL 2

Expert Comment

by:Philippe
ID: 1602829

Pisoft,

could you comment on why you rejected the answer. It is not easy for us to help us if you don't give us more detailed information.

 cheers,

  Philippe

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Author Comment

by:pisoft
ID: 1602830
I am looking for a Quebec and German VAT type of formula. The formula that I see are all standard sales tax formula as in the United States taxation. In the US, we have Tax Codes and we just add them. Not in Quebec, Not in Germany.
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Accepted Solution

by:
mdl052397 earned 100 total points
ID: 1602831
Dear Pisoft,

As my main occupation is adminstrative s/w for Belgium and France, I know fairly well the VAT system. In Belgium you have the following VAT rates : 6%, 12%, 18%, 21% (applied for most products) and 33%

VAT is calculated on the net price, so after all other reductions were deducted.

ex:        base price                           1000,-
             sales reduction 10%            -100,-
             net price                               900,-
             VAT 21%                              189,-
             amount to pay                     1089,-

I never heard of libraries specifically treating this stuf, and I don't think they exist, as the calculation is fairly easy. Or I didn't understand your question well.

kind regards,

mdl
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