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Calculating VAT

Posted on 2004-03-27
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Last Modified: 2011-10-03
Hello there
i am trying to get a formula to calculate vat. what the formula should do is that whne i enter amount which includes vat and tab on to the next field the formula should automactically calculate the amount exc vat and the vat price. please help me anyone
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Question by:ksunnyd
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5 Comments
 
LVL 54

Accepted Solution

by:
nico5038 earned 84 total points
ID: 10694029
Just register one type of amount and use in queries and on forms the calculation like:
SELECT AmountIncludingVAT, [amount]/((100+7)/100) AS ExAmount, [ExAmount]*((100+7)/100) AS [InAmount]
FROM Table1;

In a form field use for getting the ex value:
=[amount]/((100+7)/100)

Best probably to store the VAT percentage in a global variable or table, thus making a change easy.
Most flexible (but hardest to use) will be to have a table with the tax rate and the date when it started, thus allowing historical calculations when the VAT rate changes...

Nic;o)
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LVL 8

Assisted Solution

by:James Bendall
James Bendall earned 83 total points
ID: 10694046
If the total price is held in a field called TotalAmount then the formulae would be:

For the amount excluding VAT:  =TotalAmount * (1/1.175)

For the VAT:  = TotalAmount * (.175/1.175)

This example assumes the current standard UK VAT rate of 17.5%.  Nico's point about storing the VAT rate is a good one.
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LVL 12

Assisted Solution

by:monosodiumg
monosodiumg earned 83 total points
ID: 10694291
There are VAT codes witha  rate other than or 0% or 17.5%. You might want to add a combo for the VAT code and put the VAT rate into one fo the column and use that as the source of the VAT rate in the above calculations.
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