The most efficient formula we can use to express this is to divide the gross amount by 120. Learn VAT in ExcelExclude VAT Formulavalue-value100vatvalueInclude VAT Formulavaluevalue100vatvaluePlease remember to subscribe httpsgoog. You can also calculate the value of your product with tax in a single formula.
Formula to add the price and the tax.
If the rate is different add 100 to the VAT percentage rate and divide by that number Multiply the result from Step 1 by 100 to get the pre-VAT total. This short video demonstrates the formulas to use to calculate VAT from both NET GROSS valuesAlthough the demo uses VAT as the illustration the same fo. Because of the way Excel handles percentages it sees 120 and 12 as exactly the same value. To calculate VAT you will need to multiply the quantity by the tax percentage converted to a decimal for example 21 tax is 021 4 is 004 VAT price without tax 021 This will give us the amount of tax that will need to be added to the initial price to find out the final cost.