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Compute VAT; formula, Access/VBA library

pisoft
pisoft asked
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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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Author

Commented:
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Author

Commented:
Adjusted points to 100

Commented:
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




Author

Commented:
Bogey, Quebec does not compute it that way as well as other European countries. You computed it just like US SAles tax.
akb
CERTIFIED EXPERT

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

Commented:

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

Commented:

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

Author

Commented:
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.
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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